SHANGHAI, Aug. 12 (SMM) - An import window for zinc opened on the rising SHFE/LME zinc price ratio, SMM says.
"LME zinc prices plunged due to RMB depreciation over the last two days, while SHFE zinc prices held relatively firm, increasing the SHFE/LME zinc price ratio”, SMM explains.
The SMM/LME zinc price ratio rose from 7.8 to 8.4. Import premiums are $ 130-150 per tonne for now, up from $ 100 per tonne last week, and are expected to rise further.
Import profit expanded to 200-600 yuan per tonne, but trading was not boosted significantly yet.
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