[Zn Price] SMM Zinc Market Daily Review (2015-8-11)

SHANGHAI, Aug. 12 (SMM) –SHFE 1510 zinc contract prices opened at RMB 14,540/mt Monday evening, then climbed to RMB 14,740/mt, and closed at RMB 14,655/mt. SHFE 1510 zinc contract prices fluctuated between RMB 14,630-14,730/mt on Tuesday, and closed at RMB 14,680/mt, up RMB 235/mt or 1.63%. Trading volumes increased 42,744 to 233,152 lots, and total positions decreased 8,198 to 162,474. SHFE 1509 zinc contract prices are expected to fall.  

#0 zinc prices were between RMB 15,030-15,080/mt, RMB 340-380/mt above SHFE 1510 zinc contract prices last Friday. #1 zinc prices were RMB 15,010/mt. Spot premiums of imported #0 zinc were RMB 300/mt against SHFE 1510 zinc contract prices. SHFE 1510 zinc contract prices opened at RMB 14,655/mt, then hovered around RMB 14,700/mt. Smelters sold modestly, with registered #0 zinc supply growing, weighing on spot premiums. Supply of non-registered and imported zinc remained limited, with the price spread between imported zinc and domestic registered zinc narrowing further. Downstream buyers stayed on the sidelines, leaving overall transactions quiet. Prices moved sideways in the afternoon, with spot premiums of RMB 10+340-360/mt, and RMB 15,000/mt for imported zinc.