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

SHANGHAI, Apr. 30 (SMM) – The July-delivery SHFE zinc mainly hovered around RMB 17,000/mt Wednesday and touched RMB 17,035/mt in the afternoon before falling with iron ore prices. The prices finally closed at RMB 16,860/mt, down RMB 135/mt. Trading volumes fell by 34,744 lots and positions dropped 3,356.

Prices of #0 zinc were RMB 16,790-16,840/mt, with discounts of RMB 90-120/mt to SHFE 1506 zinc contract and RMB 130-160/mt to SHFE 1507 zinc contract. #1 zinc traded at RMB 16,740-16,750/mt. Smelters moved goods normally, but traders were little interested in making transactions. Downstream buyers mostly watched from the sidelines.

In #0 zinc market, Shuangyan brand sold for RMB 16,820-16,840/mt, with discounts of RMB 130-140/mt to SHFE 1507 zinc contract. Yuguang, Qinxin and Qiling traded at RMB 16,790-16.820/mt, with discounts of RMB 140-160/mt to SHFE 1507 lead contract. Prices were RMB 16,780-16,800/mt for SMC and Baohui #0 zinc, with discounts of RMB 160-170/mt to the July-delivery zinc, and prices of Indian and Dutch #0 zinc were RMB 16,710-16,730/mt.