Metals News
[Zn Price] SMM Zinc Market Daily Review (2015-7-31)
price review forecast
10:39AM
Source:SMM

SHANGHAI, Aug. 3 (SMM) – SHFE 1510 zinc contract prices opened at RMB 14,820/mt Thursday evening, then rose to RMB 14,900/mt, and closed at RMB 14,895/mt, down RMB 60/mt or 0.4%.  Trading volumes increased over 10,000 to 51,850 lots, and total positions grew 3,086 to 128,044. SHFE 1510 zinc contract prices fluctuated around the 5-day moving average today, and closed at RMB 14,885/mt, down RMB 60/mt or 0.4%. Trading volumes increased 452 to 98,136 lots, and total positions increased 3,208 to 128,166. SHFE 1509 zinc contract prices are expected to test support from the 5-day moving average.

#0 zinc prices were between RMB 15,070-15,140/mt, RMB 170-240/mt above SHFE 1510 zinc contract prices last Friday. #1 zinc prices were RMB 15,020-15,050/mt, with premiums of RMB 10-100/mt for Japanese and South Korean zinc and RMB 9-50/mt for Kazakhstan zinc. SHFE 1510 zinc contract prices hovered around RMB 14,900/mt after opening. Smelters sold modestly, while traders were holding prices firm, with supply tight. Downstream buyers took a wait-and-see posture, leaving overall transactions quiet. SHFE 1510 zinc contract prices consolidated inched lower in the afternoon, with trading improving. #0 zinc prices were around RMB 15,050/mt, with spot premiums between RMB 180-190/mt. Shuangyan zinc prices were around RMB 15,100/mt, with spot premiums of RMB 230/mt against SHFE 1510 zinc contract prices.

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