SHANGHAI, Jun. 19 (SMM) – SHFE 1508 zinc contract prices opened at RMB 16,000/mt Wednesday evening, then dropped to RMB 15,830-15,870/mt, and closed at RMB 15,845/mt, down RMB 160/mt or 1%. Trading volumes increased 24,340 to 50,464 lots, and total positions declined 306 to 120,000. SHFE 1508 zinc contract prices fluctuated around RMB 15,880/mt after opening on Thursday, touching RMB 15,935/mt in the afternoon and closing at RMB 15,885/mt, down RMB 120/mt or 0.75%. Trading volumes decreased over 10,000 to 84,770 lots, and total positions declined 3,532 to 117,000. SHFE 1508 zinc contract prices will remain on the downward track.

#0 zinc prices were between RMB 16,880-16,920/mt, RMB 10/mt below or RMB 30/mt above SHFE 1508 zinc contract prices. #1 zinc prices were RMB 16,860-16,870/mt. SHFE 1508 zinc contract prices fluctuated around RMB 15,880/mt during 9:00-10:15 am, with spot premiums of RMB 20-30/mt. Downstream buying interest was low. SHFE 1508 zinc contract prices rose RMB 20/mt during 10:30-11:30 am, with spot prices ranging from RMB 10/mt below to RMB 10/mt above SHFE 1508 zinc contract prices. This allowed cargo holders to sell actively, leading to ample supply. Arbitrage traders, however, lacked buying interest. Some downstream buyers replenished stocks modestly, allowing overall transactions to improve. SHFE 1508 zinc contract prices fluctuated between RMB 15,880-15,930/mt in the afternoon, with spot prices ranging from RMB 10/mt below to RMB 20/mt above SHFE 1508 zinc contract prices.