SMM Zinc Market Morning Review (2015-8-26)

Published: Aug 26, 2015 09:51 (GMT+8)

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LME zinc prices opened at USD 1,705.5/mt on Tuesday, then fluctuated narrowly during Asian trading.

SHANGHAI, Aug. 26 (SMM) – LME zinc prices opened at USD 1,705.5/mt on Tuesday, then fluctuated narrowly during Asian trading. During European and US trading, LME zinc prices edged up to USD 1,735-1,750/mt, and closed at USD 1,738/mt, up USD 19/mt or 1.11%. Trading volumes decreased 4,402 to 10,057 lots, and total positions grew 112 to over 300,000.

SHFE 1510 zinc contract prices opened at RMB 14,555/mt Tuesday evening, and closed at RMB 14,565/mt, up RMB 175/mt or 1.22%. Total trading volumes were down 48,916 to 39,436 lots, and total positions declined 448 to 128,568.

LME zinc prices should fluctuate between USD 1,715-1,745/mt today, and SHFE 1510 zinc contract prices will hover between RMB 14,400-14,600/mt, with spot premiums of RMB 260-420/mt.

al'>300-450/mt above SHFE 1510 zinc contract prices. #1 zinc supply was tight, with prices of RMB 14,650-14,660/mt. Spot premiums of imported #0 zinc were RMB 50-120/mt against SHFE 1510 zinc contract prices. Market players purchased at lows as zinc prices fell, but supply of a few brands was limited. Traders held their quotes firm, increasing spot premiums, but trading was limited. Traded prices were between RMB 14,690-14,830/mt in the afternoon.

LME zinc prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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