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SMM Zinc Market Daily Review (2015-6-30)
Jul 1,2015 09:06CST
price review forecast
Source:SMM
SHFE 1509 zinc contract prices opened at RMB 15,600/mt, then remained flat and closed at RMB 15,550/mt, down RMB 80/mt.

SHANGHAI, Jul. 1 (SMM) – SHFE 1509 zinc contract prices opened at RMB 15,600/mt, then remained flat and closed at RMB 15,550/mt, down RMB 80/mt. SHFE 1509 zinc contract prices fluctuated between RMB 15,550/mt on Friday, and fell sharply in the afternoon, dipping to RMB 15,380/mt, and closing at RMB 15,400/mt, down RMB 230/mt or 1.47%. Trading volumes increased 26,620 to 104,818 lots, and total positions grew 7,466 to 124,436. SHFE 1509 zinc contract prices will fall more slowly and test support from RMB 15,400/mt.

#0 zinc prices were between RMB 15,340-15,380/mt, RMB 0-30/mt above SHFE 1509 zinc contract prices. #1 zinc prices were RMB 15,300-15,340/mt. SHFE 1509 zinc contract prices fluctuated between RMB 15,340-15,350/mt, down RMB 200/mt, with spot premiums between RMB 20-50/mt in the morning, but turning to RMB 0-30/mt due to oversupply. Cargo holders liquidated inventories due to repayment for banks, leaving supply ample. Traders and downstream buyers took a wait-and-see attitude, with trading muted. SHFE 1509 zinc contract prices fell to RMB 15,220/mt in the afternoon, but cargo holders sold proactively on cash tightness, with spot premiums between RMB 0-30/mt against SHFE 1509 zinc contract prices.
 

SHFE zinc prices

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