SHANGHAI, Jun. 16 (SMM) – SHFE 1508 zinc contract prices opened at RMB 16,165/mt last Friday evening, then fluctuated between RMB 16,150-16,250/mt, and closed at RMB 16,205/mt, up RMB 10/mt or 0.06%. Trading volumes decreased 40,162 to 29,156 lots, and total positions increased 2,122 to 125,170. SHFE 1508 zinc contract prices fluctuated between RMB 16,190-16,200/mt on Monday, then fell with LME zinc prices to close at RMB 16,090/mt, down RMB 105/mt or 0.65%. Trading volumes decreased over 40,000 to 75,900 lots, and total positions increased 60 to 123,000. SHFE 1506 zinc contract prices were resistant to declines, and closed at RMB 16,130/mt. Trading volumes increased 30 to 300 lots, and total positions decreased 80 to 7,200.
#0 zinc prices were between RMB 16,160-16,190/mt, RMB 20/mt below SHFE 1508 zinc contract prices. #1 zinc prices were RMB 16,130-16,140/mt. SHFE 1508 zinc contract prices fluctuated between RMB 16,180-16,200/mt, flat at last Friday’s, with spot discounts narrowing RMB 20-10/mt. Smelters and cargo holders held prices firm, but traders refrained on the lack of arbitrage opportunities. Downstream buying interest was low, leaving overall transactions quiet. SHFE 1508 zinc contract prices dropped below RMB 16,100/mt in the afternoon, but spot discounts remained between RMB 0-20/mt.