SHANGHAI, May 27 (SMM) – SHFE 1508 zinc contract prices opened at RMB 16,555/mt Monday evening, then rose to RMB 16,660-16,700/mt, and closed at RMB 16,670/mt, up RMB 145/mt or 0.88%. Trading volumes contracted 15,710 to 18,328 lots, and total positions grew 5,106 to 87,868. SHFE 1508 zinc contract prices opened at RMB 16,670/mt on Tuesday, then fluctuated between RMB 16,620-16,680/mt, then roll back gains at night session, and closed flat at RMB 16,525/mt. Trading volumes increased 9,198 to 73,566 lots, and total positions grew 5,656 to 89,888. SHFE 1508 zinc contract prices are expected to fluctuate between RMB 16,400-16,600/mt this evening.
#0 zinc prices were between RMB 16,520-16,560/mt, RMB 90-70/mt below SHFE 1507 zinc contract prices. No #1 zinc was traded. SHFE 1507 zinc contract prices fluctuated between RMB 16,600-16,640/mt, up RMB 100/mt from last Friday. Most smelters were selling normally, but downstream buying interest was weak on rising zinc prices. Traders busy with settling also lacked buying interest, leaving overall transactions quiet. Huize #0 zinc prices were RMB 16,550-16,570/mt, RMB 60-50/mt below SHFE 1507 zinc contract prices. Shuangyan #0 zinc prices were RMB 16,540-16,560/mt, RMB 70/mt below SHFE 1507 zinc contract prices. Yuguang #0 zinc prices were RMB 16,530-16,550/mt, RMB 80/mt below SHFE 1507 zinc contract prices. Qilin and Qinxin #0 zinc prices were RMB 16,520-16,540/mt, with spot discounts of RMB 90/mt against SHFE 1507 zinc contract prices. SMC #0 zinc prices were RMB 16,500-16,520/mt, with spot discounts of RMB 120-110/mt against SHFE 1507 zinc contract prices. Indian #0 zinc prices were RMB 16,480-16,500/mt, with spot discounts of RMB 140/mt against SHFE 1507 zinc contract prices. Brazilian and Peruvian #0 zinc prices were RMB 16,460-16,480/mt, with spot discounts of RMB 160-150/mt against SHFE 1507 zinc contract prices. SHFE 1507 zinc contract prices fell RMB 50/mt in the afternoon, with spot discounts narrowing RMB 20/mt.
