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SMM Zinc Market Daily Review (2015-7-1)
Jul 2,2015 09:02CST
price review forecast
Source:SMM
SHFE 1509 zinc contract prices opened at RMB 15,235/mt, then dropped to a new low of RMB 15,125/mt, and closed at RMB 15,210/mt, down RMB 135/mt.

SHANGHAI, Jul. 2 (SMM) – SHFE 1509 zinc contract prices opened at RMB 15,235/mt, then dropped to a new low of RMB 15,125/mt, and closed at RMB 15,210/mt, down RMB 135/mt. SHFE 1509 zinc contract prices fluctuated around RMB 15,230/mt on Wednesday, and once rose to RMB 15,340/mt, and closed at RMB 15,230/mt, down RMB 115/mt. Trading volumes increased 12,348 to 134,916 lots, and total positions grew 2,906 to 139,512. SHFE 1509 zinc contract prices will test support from RMB 15,200/mt this evening.

#0 zinc prices were between RMB 15,220-15,280/mt, RMB 10-50/mt above SHFE 1509 zinc contract prices. #1 zinc prices were RMB 15,190-15,230/mt. SHFE 1509 zinc contract prices fell RMB 130/mt to RMB 15,200-15,250/mt, with trading improving and spot premiums expanding RMB 10-20/mt. Despite rising SHFE zinc prices, spot premiums did not narrow significantly. Some smelters held back goods on eased cash tightness, with price spread widening RMB 10/mt. Downstream buyers purchased as needed, while arbitrage traders purchased at lows, causing overall transactions to increase. SHFE 1509 zinc contract prices fell back in the afternoon, with spot premiums between RMB 20-50/mt against SHFE 1509 zinc contract prices.
 

SHFE zinc prices

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