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Home / Metal News / SMM Zinc Market Morning Review (2015-4-29)

SMM Zinc Market Morning Review (2015-4-29)

Apr 29, 2015 10:47

Source:SMM

LME zinc prices opened at USD 2,296/mt on Tuesday and remained between USD 2,285-2,305/mt before closing at USD 2,294/mt

SHANGHAI, Apr. 29 (SMM) – LME zinc prices opened at USD 2,296/mt on Tuesday and remained between USD 2,285-2,305/mt before closing at USD 2,294/mt, down USD 4.5/mt. Markets were waiting for the minutes from FOMC’s latest meeting.

SHFE 1507 zinc contract opened at RMB 17,000/mt for Tuesday’ night session but met resistance and finally ended the session at RMB 16,980/mt. Selling pressure became evidence at RMB 17,000/mt.

SHFE zinc is expected to trade at RMB 16,920-17,020/mt on April 29, and spot zinc may be offered at discounts of RMB 170-140/mt.

LME zinc prices

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LME zinc market will be closed next Monday and is expected to remain range-bound next week, moving in $1,850-1,920 per tonne range.

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