SMM Zinc Market Morning Review (2015-8-21)-Shanghai Metals Market

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SMM Zinc Market Morning Review (2015-8-21)

Price Review & Forecast 09:34:09AM Aug 21, 2015 Source:SMM

SHANGHAI, Aug. 21 (SMM) – LME zinc prices opened at USD 1,791/mt, then rose to the 10-day moving average and closed at USD 1,813/mt, up USD 21/mt or 1.17%. Trading volumes increased 620 to 8,177 lots, and total positions fell 2,609 to 299,000. LME zinc inventories grew 1,375 to 504,850 mt.

SHFE 1510 zinc contract prices opened at RMB 14,930/mt Thursday evening, but rolled back some gains as some investors left the market after profit-taking, and closed at RMB 14,840/mt, up RMB 100/mt or 0.68%. Total trading volumes were up 5,360 to 49,514 lots, and total positions declined 740 to 232.

LME zinc prices should fluctuate between USD 1,800-1,830/mt today, and SHFE 1510 zinc contract prices will hover between RMB 14,800-14,900/mt, with spot premiums of RMB 190-230/mt.

SMM Zinc Market Morning Review (2015-8-21)

Price Review & Forecast 09:34:09AM Aug 21, 2015 Source:SMM

SHANGHAI, Aug. 21 (SMM) – LME zinc prices opened at USD 1,791/mt, then rose to the 10-day moving average and closed at USD 1,813/mt, up USD 21/mt or 1.17%. Trading volumes increased 620 to 8,177 lots, and total positions fell 2,609 to 299,000. LME zinc inventories grew 1,375 to 504,850 mt.

SHFE 1510 zinc contract prices opened at RMB 14,930/mt Thursday evening, but rolled back some gains as some investors left the market after profit-taking, and closed at RMB 14,840/mt, up RMB 100/mt or 0.68%. Total trading volumes were up 5,360 to 49,514 lots, and total positions declined 740 to 232.

LME zinc prices should fluctuate between USD 1,800-1,830/mt today, and SHFE 1510 zinc contract prices will hover between RMB 14,800-14,900/mt, with spot premiums of RMB 190-230/mt.