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[Zn Price] SMM Zinc Market Daily Review (2015-8-4)
Aug 5,2015 09:00CST
price review forecast
Source:SMM
SHFE 1510 zinc contract prices opened at RMB 14,580/mt Monday evening, then fluctuated between RMB 14,510-14,680/mt, and closed at RMB 14,600/mt.

SHANGHAI, Aug. 5 (SMM) –SHFE 1510 zinc contract prices opened at RMB 14,580/mt Monday evening, then fluctuated between RMB 14,510-14,680/mt, and closed at RMB 14,600/mt. SHFE 1510 zinc contract prices fluctuated between RMB 14,550-14,600/mt this morning, then touched as high as RMB 14780/mt with rebounding China’s A-share market and rising crude oil prices, and closed at RMB 14,735/mt, up RMB 10/mt or 0.07%. Trading volumes decreased 42,358 to 133,682 lots, and total positions increased 6,968 to 152,032. SHFE 1509 zinc contract prices are expected to consolidate.

#0 zinc prices were between RMB 14,900-14,940/mt, RMB 300-340/mt above SHFE 1510 zinc contract prices on Monday. #1 zinc prices were RMB 14,820-14,840/mt, RMB 320-340/mt above SHFE 1510 zinc contract prices, with trading quiet. As supplies increased, spot premiums fell to RMB 300-320/mt above SHFE 1510 zinc contract prices, with the latter fluctuating around RMB 14,600/mt. Smelters fulfilled some term contracts, and traders sold actively. Downstream buying interest weakened. SHFE 1510 zinc contract prices rallied to RMB 14,700/mt in the afternoon, with spot premiums of regular #0 zinc narrowing to RMB 190-250/mt. Spot premiums of Shuangyan zinc prices were firm between RMB 270-300/mt. Trading was brisk in the afternoon, but with downstream buyers cautious.

 

 

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