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

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

Price Review & Forecast 10:55:47AM Aug 24, 2015 Source:SMM

SHANGHAI, Aug. 24 (SMM) –SHFE 1510 zinc contract prices opened at RMB 14,930/mt last Thursday evening, and closed at RMB 14,840/mt, up RMB 100/mt or 0.68%. SHFE 1510 zinc contract prices dipped to RMB 14,685/mt last Friday, and closed at RMB 14,700/mt, down RMB 30/mt or 0.2%. Trading volumes increased 17,756 to 110,240 lots, and total positions decreased 4,624 to 139,596.

#0 zinc prices were between RMB 14,990-15,050/mt, RMB 160-230/mt above SHFE 1510 zinc contract prices. #1 zinc supply was tight, with prices for Shuangyan zinc around RMB 14,960/mt. Spot premiums of imported #0 zinc were RMB 10-40/mt against SHFE 1510 zinc contract prices. Smelters sold normally, and traders sold proactively, weighing down spot premiums further. Downstream buyers preferred imported zinc due to lower prices. Purchases grew at lows in the afternoon, with overall trading made between traders.

Key Words:  SHFE zinc prices 

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

Price Review & Forecast 10:55:47AM Aug 24, 2015 Source:SMM

SHANGHAI, Aug. 24 (SMM) –SHFE 1510 zinc contract prices opened at RMB 14,930/mt last Thursday evening, and closed at RMB 14,840/mt, up RMB 100/mt or 0.68%. SHFE 1510 zinc contract prices dipped to RMB 14,685/mt last Friday, and closed at RMB 14,700/mt, down RMB 30/mt or 0.2%. Trading volumes increased 17,756 to 110,240 lots, and total positions decreased 4,624 to 139,596.

#0 zinc prices were between RMB 14,990-15,050/mt, RMB 160-230/mt above SHFE 1510 zinc contract prices. #1 zinc supply was tight, with prices for Shuangyan zinc around RMB 14,960/mt. Spot premiums of imported #0 zinc were RMB 10-40/mt against SHFE 1510 zinc contract prices. Smelters sold normally, and traders sold proactively, weighing down spot premiums further. Downstream buyers preferred imported zinc due to lower prices. Purchases grew at lows in the afternoon, with overall trading made between traders.

Key Words:  SHFE zinc prices