Home / Metal News / Nickel / SMM Zinc Market Daily Review (2015-5-8)
SMM Zinc Market Daily Review (2015-5-8)
May 11,2015 09:56CST
price review forecast
Source:SMM
SHFE 1507 zinc contract prices fluctuated between RMB 17,155-17,215/mt Thursday evening, and closed at RMB 17,200/mt, down RMB 55/mt or 0.32%.

SHANGHAI, May 11 (SMM) – SHFE 1507 zinc contract prices fluctuated between RMB 17,155-17,215/mt Thursday evening, and closed at RMB 17,200/mt, down RMB 55/mt or 0.32%. Trading volumes decreased 31,024 to 62,286 lots, and total positions declined 1,680 to 168,462. SHFE 1507 zinc contract prices opened at RMB 17,190/mt on Friday, then dipped to as low as RMB 17,045/mt, and closed at RMB 17,105/mt, down RMB 150/mt or 0.87%. Trading volumes increased 8,300 to 165,746 lots, and total positions fell 15,584 to 154,558. SHFE 1507 zinc contract prices are expected to stand at the 5-day moving average this evening.

#0 zinc prices were between RMB 16,940-17,010/mt, RMB 150-110/mt below SHFE 1507 zinc contract prices. #1 zinc was traded between RMB 16,920-16,930/mt. SHFE 1507 zinc contract prices fell RMB 17,100/mt during 9:00-10:15 am, but rallied to RMB 17,140/mt during 10:30-11:30 am. Traders lacking arbitrage opportunities held back goods, with spot premiums of RMB 150-130/mt against SHFE 1507 zinc contract prices. Cargo holders sold actively on narrowing spot discounts, leaving supply ample. Some traders purchased goods with spot discounts of RMB 60/mt against SHFE spot-month zinc contract prices, and downstream buyers replenished stocks at the week’s end, causing overall transactions to improve. Spot discounts narrowed to RMB 130-110/mt.
 

zinc prices

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news