SMM Zinc Market Morning Review (2015-8-25)

SHANGHAI, Aug. 25 (SMM) – LME zinc prices opened at USD 1,772/mt on Monday, then fell on market pessimism and dipped to USD 1,694/mt, a new low since June 9, 2010, and closed at USD 1,719/mt, down USD 46/mt or 2.61. Trading volumes increased 4,252 to 14,459 lots, and total positions grew 2,229 to over 303,000.

SHFE 1510 zinc contract prices opened at RMB 14,250/mt Monday evening, then dropped to RMB 14,280/mt, but later rose to RMB 14,400-14,500/mt, and closed at RMB 14,445/mt, down RMB 55/mt or 0.38%. Total trading volumes were up 46,316 to 88,352 lots, and total positions declined 3,884 to 128,440.

LME zinc prices should fluctuate between USD 1,680-1,710/mt today, and SHFE 1510 zinc contract prices will hover between RMB 14,300-14,500/mt, with spot premiums of RMB 260-400/mt.