SHANGHAI, Jul. 21 (SMM) – The US dollar index has been rising for five days in a row, weighing down base metals.
LME zinc prices opened at USD 2,063.5/mt, then inched lower to USD 2,040-2,050/mt, and closed at RMB 2,049/mt, down RMB 11.5/mt or 0.56%. Trading volumes increased 1,969 to 7,207 lots, and total positions fell 34 to 297,399. LME zinc inventories fell 1,100 to 453,325 mt.
SHFE 1509 zinc contract prices opened at RMB 15,500/mt Monday evening, then hovered between RMB 15,500-15,600/mt, and closed at RMB 15,540/mt, down RMB 45/mt or 0.29%. Trading volumes decreased 5,660 to 42,288 lots, and total positions grew 1,316 to 112,956.
LME zinc prices should move between USD 2,030-2,060/mt today, and SHFE 1509 zinc contract prices will fluctuate between RMB 15,450-15,580/mt, with spot premiums of RMB 0-20/mt against SHFE 1509 zinc contract prices.