Home / Metal News / Copper / SMM Zinc Market Daily Review (2015-5-28)
SMM Zinc Market Daily Review (2015-5-28)
May 29,2015 09:08CST
price review forecast
Source:SMM
SHFE 1508 zinc contract prices opened at RMB 16,550/mt Wednesday evening, then rose to RMB 16,785/mt, and closed at RMB 16,705/mt, up RMB 100/mt or 0.6%.

SHANGHAI, May 29 (SMM) –SHFE 1508 zinc contract prices opened at RMB 16,550/mt Wednesday evening, then rose to RMB 16,785/mt, and closed at RMB 16,705/mt, up RMB 100/mt or 0.6%. Trading volumes increased 28,210 to 68,776 lots, and total positions grew 14,564 to 122,522. SHFE 1508 zinc contract prices opened at RMB 16,700/mt on Thursday, then edged up as a large number of longs entered the market, but fell back to as low as RMB 16685/mt in the afternoon, and closed at RMB 16,835/mt, up RMB 230/mt or 1.39%. Trading volumes increased 96,582 to 189,616 lots, and total positions grew 27,792 to 135,750. SHFE 1508 zinc contract prices are expected to maintain upward momentum this evening.

#0 zinc prices were between RMB 16,580-16,610/mt, RMB 100-70/mt below SHFE 1507 zinc contract prices. #1 zinc prices were RMB 16,540-16,560/mt. SHFE 1507 zinc contract prices fluctuated between RMB 16,680-16,690/mt during 9:00-10:15 am, with spot discounts largely unchanged. SHFE 1507 zinc contract prices rose above RMB 16,700/mt after 11:00 am, with spot discounts of Shuangyan #0 zinc around RMB 100/mt at one point. Smelters ramped up supply on rising zinc prices, and traders mainly made term contract deals, with trading between traders brisk. Downstream buying interest, however, was weak. Shuangyan #0 zinc prices were RMB 16,600-16,610/mt, RMB 80-70/mt below SHFE 1507 zinc contract prices. Yuguang #0 zinc prices were RMB 16,590-16,600/mt, RMB 90-80/mt below SHFE 1507 zinc contract prices. Feilong, Qilin and Qinxin #0 zinc prices were RMB 16,580-16,590/mt, with spot discounts of RMB 100-90/mt against SHFE 1507 zinc contract prices. Baohui and Tongguan #0 zinc prices were RMB 16,550-16,570/mt, with spot discounts of RMB 130-110/mt against SHFE 1507 zinc contract prices. KZ and YP #0 zinc prices were RMB 16,550-16,560/mt, with spot discounts of RMB 130-120/mt against SHFE 1507 zinc contract prices. Indian #0 zinc prices were RMB 16,530-16,540/mt, with spot discounts of RMB 150-140/mt against SHFE 1507 zinc contract prices. SHFE 1507 zinc contract prices fluctuated around RMB 16,680/mt in the afternoon, with #0 zinc prices ebtewen RMB 16,590-16,630/mt.
 

SHFE 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