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[Zn Price] SMM Zinc Market Daily Review (2015-7-21)
Jul 22,2015 09:44CST
price review forecast
Source:SMM
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%.

SHANGHAI, Jul. 22 (SMM) – 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. SHFE 1509 zinc contract prices opened at RMB 15,500/mt, then fell with the exodus of longs after profit-taking, and dipped to RMB 15,505/mt. In the afternoon, SHFE 1509 zinc contract prices rose to RMB 15,550-15,580/mt, and closed at RMB 15,580/mt, down RMB 5/mt or 0.03%. Trading volumes decreased over 40,000 lots to 87,172 lots, and total positions decreased 2,600 to 109,000. SHFE 1509 zinc contract prices are expected to remain range-bound.

#0 zinc prices were between RMB 15,510-15,560/mt, RMB 10/mt below or RMB 20/mt above SHFE 1509 zinc contract prices. #1 zinc prices were RMB 15,480-15,500/mt. SHFE 1509 zinc contract prices fluctuated between RMB 15,540-15,580/mt after opening, with spot price ranging from RMB10/mt below to RMB 20/mt above SHFE 1509 zinc contract prices. As SHFE 1509 zinc contract prices fell to RMB 15,500-15,520/mt, spot premiums were RMB 0-20/mt.

Smelters sold normally, while traders held back goods. Downstream buying interest was weak, and traders also took a wait-and-see attitude, leaving overall truncations quiet. SHFE 1509 zinc contract prices pointed toward RMB 15,600/mt in the afternoon, with spot premiums turning to discounts of RMB 20-10/mt at one point.

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SHFE zinc prices

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