SMM Zinc Market Daily Review (2015-8-12)-Shanghai Metals Market

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SMM Zinc Market Daily Review (2015-8-12)

Price Review & Forecast 09:15:00AM Aug 13, 2015 Source:SMM

SHANGHAI, Aug. 13 (SMM) – SHFE 1510 zinc contract prices opened at RMB 14,520/mt Tuesday evening, then touched RMB 14,640/mt, but fell back to RMB 14,500/mt, and closed at RMB 14,510/mt, down RMB 160/mt. SHFE 1510 zinc contract prices touched RMB 14,885/mt on Wednesday, and closed at RMB 14805/mt, up RMB 135/mt or 0.92%. Trading volumes increased 88,436 to 321,588 lots, and total positions decreased 7,204 to 155,270. SHFE 1509 zinc contract prices will have limited room for rebound.  

#0 zinc prices were between RMB 15,070-15,120/mt, RMB 330-380/mt above SHFE 1510 zinc contract prices Wednesday. #1 zinc prices were RMB 15,070/mt. Spot premiums of imported #0 zinc were RMB 300-320/mt against SHFE 1510 zinc contract prices. SHFE 1510 zinc contract prices opened at RMB 14,510/mt, and hovered around RMB 14,740/mt during 10:30-11:30, and closed at RMB 14,745/mt. Smelters sold modestly, with registered #0 zinc supply limited, and spot premiums largely unchanged. Trading for non-deliverable brands and imported zinc was quiet, with downstream buying interest weak.  SHFE 1510 zinc contract prices extended gains in the afternoon, fluctuating around RMB 14,730/mt and rose to RMB 14,800/mt at the end of trading, boosting #0 zinc prices and causing spot premiums to narrow to RMB 300-350/mt. #0 zinc was traded at RMB 15,040-15,070/mt.

SMM Zinc Market Daily Review (2015-8-12)

Price Review & Forecast 09:15:00AM Aug 13, 2015 Source:SMM

SHANGHAI, Aug. 13 (SMM) – SHFE 1510 zinc contract prices opened at RMB 14,520/mt Tuesday evening, then touched RMB 14,640/mt, but fell back to RMB 14,500/mt, and closed at RMB 14,510/mt, down RMB 160/mt. SHFE 1510 zinc contract prices touched RMB 14,885/mt on Wednesday, and closed at RMB 14805/mt, up RMB 135/mt or 0.92%. Trading volumes increased 88,436 to 321,588 lots, and total positions decreased 7,204 to 155,270. SHFE 1509 zinc contract prices will have limited room for rebound.  

#0 zinc prices were between RMB 15,070-15,120/mt, RMB 330-380/mt above SHFE 1510 zinc contract prices Wednesday. #1 zinc prices were RMB 15,070/mt. Spot premiums of imported #0 zinc were RMB 300-320/mt against SHFE 1510 zinc contract prices. SHFE 1510 zinc contract prices opened at RMB 14,510/mt, and hovered around RMB 14,740/mt during 10:30-11:30, and closed at RMB 14,745/mt. Smelters sold modestly, with registered #0 zinc supply limited, and spot premiums largely unchanged. Trading for non-deliverable brands and imported zinc was quiet, with downstream buying interest weak.  SHFE 1510 zinc contract prices extended gains in the afternoon, fluctuating around RMB 14,730/mt and rose to RMB 14,800/mt at the end of trading, boosting #0 zinc prices and causing spot premiums to narrow to RMB 300-350/mt. #0 zinc was traded at RMB 15,040-15,070/mt.