SMM Zinc Market Daily Review (2015-5-19)

Published: May 20, 2015 09:17 (GMT+8)

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SHFE 1507 zinc contract prices opened at RMB 16,835/mt Monday evening, then dropped to RMB 16,800/mt, and closed at RMB 16,795/mt, down RMB 25/mt or 0.15%.

SHANGHAI, May 20 (SMM) – SHFE 1507 zinc contract prices opened at RMB 16,835/mt Monday evening, then dropped to RMB 16,800/mt, and closed at RMB 16,795/mt, down RMB 25/mt or 0.15%. Trading volumes decreased 37,956 to 29,122 lots, and total positions fell 364 to 106,418. SHFE 1507 zinc contract prices opened at RMB 16,795/mt on Tuesday, then rebounded with LME zinc prices, touching as high as RMB 16,910/mt. In the afternoon, SHFE 1507 zinc contract prices lacked ability to rise and closed at RMB 16,865/mt, up RMB 45/mt or 0.27%. Trading volumes decreased 37,262 to 85,834 lots, and total positions fell 1,174 to 105,608. SHFE 1507 zinc contract prices are expected to fall further this evening.

#0 zinc prices were between RMB 16,680-16,760/mt, RMB 130-100/mt below SHFE 1507 zinc contract prices. #1 zinc was traded between RMB 16,690-16,700/mt. SHFE 1507 zinc contract prices fluctuated around RMB 16,810/mt during 9:00-10:15 am, with spot discounts narrowing to RMB 120-100/mt to RMB 130-110/mt. SHFE 1507 zinc contract prices edged up to RMB 16,860-16,880/mt during 10:30-11:30 am, with spot discounts widening to RMB 130-110/mt. Supply from smelters was sufficient, but traders were unwilling to sell, lending support to spot prices. But downstream buyers refrained from purchasing on higher zinc prices. Trading improved some due to term contract deals. Shuangyan #0 zinc prices were RMB 16,710-16,760/mt, RMB 120-100/mt below SHFE 1507 zinc contract prices. Yuguang #0 zinc prices were RMB 16,700-16,750/mt, RMB 130-110/mt below SHFE 1507 zinc contract prices. Qilin and Qinxin #0 zinc prices were RMB 16,680-16,750/mt, with spot discounts of RMB 130-120/mt against SHFE 1507 zinc contract prices. SMC and Tongguan #0 zinc prices were RMB 16,660-16,730/mt, with spot discounts of RMB 150/mt against SHFE 1507 zinc contract prices. Indian #0 zinc prices were RMB 16,650-16,720/mt, with spot discounts of RMB 160-170/mt against SHFE 1507 zinc contract prices. SHFE 1507 zinc contract prices fluctuated between RMB 16,850-16,880/mt in the afternoon, with spot discounts largely unchanged, and trading muted.

zinc contract prices

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