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[Zn Price] SMM Zinc Market Daily Review (2015-7-29)
Jul 30,2015 09:21CST
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Source:SMM
SHFE 1509 zinc contract prices opened at RMB 14,900/mt Tuesday evening, then dipped to RMB 14,885/mt but later climbed to RMB 15,000/mt, and closed at RMB 15,100/mt, up RMB 350/mt.

SHANGHAI, Jul. 30 (SMM) – SHFE 1509 zinc contract prices opened at RMB 14,900/mt Tuesday evening, then dipped to RMB 14,885/mt but later climbed to RMB 15,000/mt, and closed at RMB 15,100/mt, up RMB 350/mt. SHFE 1509 zinc contract prices touched RMB 15,200/mt after opening on Wednesday, then fell back to RMB 15,100/mt, and inched lower in the afternoon, and closed at RMB 15,100/mt, up RMB 350/mt or 2.37%. Trading volumes grew 35,732 to 115,426 lots, and total positions increased 9,496 to 115,474. SHFE 1509 zinc contract prices are expected to test support from RMB 15,000/mt.

#0 zinc prices were between RMB 15,250-15,280/mt, RMB 110-160/mt above SHFE 1509 zinc contract prices last Friday. #1 zinc prices were RMB 15,180-15,200/mt. Most purchases were made for imported zinc. Japanese and South Korean #0 zinc traded between RMB 15,150-15,180/mt. SHFE 1510 zinc contract prices touched RMB 15,190/mt, then edged down to RMB 15,090/mt. Smelters were still reluctant to sell, and traders held prices firm, leaving spot premiums high. Traders purchased at lows to fulfill term contracts, but downstream buyers refrained from buying, with overall transactions quiet and mainly made among traders. SHFE 1510 zinc contract prices fell slightly in the afternoon, and #0 zinc prices were RMB 15,230-15,280/mt, with spot premiums of RMB 130-160/mt against SHFE 1510 zinc contract prices and some quotes as high as RMB 190-200/mt.

 

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