SMM Zinc Market Morning Review (2015-8-24)-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • NPI
  • Zinc
  • Macroeconomics
  • Production data
  • Market commentary
  • Morning comments
  • Aluminium
  • Copper
  • Stainless steel
  • Mengtai Group
  • hydrogen stations
  • Nickel
  • Iron ore
  • Futures movement

SMM Zinc Market Morning Review (2015-8-24)

Price Review & Forecast 10:54:34AM Aug 24, 2015 Source:SMM

SHANGHAI, Aug. 24 (SMM) – LME zinc prices opened at USD 1,810/mt last Friday, then dipped to USD 1,762/mt and closed at USD 1,765/mt, down USD 48/mt or 2.65%. Trading volumes increased 2,030 to 10,207 lots, and total positions grew 2,443 to over 300,000. LME zinc inventories grew 600 to 505,450 mt.

SHFE 1510 zinc contract prices opened at RMB 14,715/mt last Friday evening, then leveled out at RMB 14,680/mt, and closed at RMB 14,685/mt, down RMB 140/mt or 0.94%. Total trading volumes were down 7,478 to 42,036 lots, and total positions declined 3,442 to 136,154.

LME zinc prices should fluctuate between USD 1,755-1,785/mt today, and SHFE 1510 zinc contract prices will hover between RMB 14,600-14,730/mt, with spot premiums of RMB 180-230/mt.

SMM Zinc Market Morning Review (2015-8-24)

Price Review & Forecast 10:54:34AM Aug 24, 2015 Source:SMM

SHANGHAI, Aug. 24 (SMM) – LME zinc prices opened at USD 1,810/mt last Friday, then dipped to USD 1,762/mt and closed at USD 1,765/mt, down USD 48/mt or 2.65%. Trading volumes increased 2,030 to 10,207 lots, and total positions grew 2,443 to over 300,000. LME zinc inventories grew 600 to 505,450 mt.

SHFE 1510 zinc contract prices opened at RMB 14,715/mt last Friday evening, then leveled out at RMB 14,680/mt, and closed at RMB 14,685/mt, down RMB 140/mt or 0.94%. Total trading volumes were down 7,478 to 42,036 lots, and total positions declined 3,442 to 136,154.

LME zinc prices should fluctuate between USD 1,755-1,785/mt today, and SHFE 1510 zinc contract prices will hover between RMB 14,600-14,730/mt, with spot premiums of RMB 180-230/mt.