SHANGHAI, Aug. 27 (SMM) –LME zinc prices opened at USD 1,738/mt on Wednesday, then fell to a five-year low of USD 1,673/mt, and closed at USD 1,682/mt, down USD 56/mt or 3.22%. Trading volumes increased 916 to 10,973 lots, and total positions decreased 872 to 303,000.
SHFE 1510 zinc contract prices opened at RMB 14,340/mt Wednesday evening, then hovered around RMB 14,400/mt and closed at RMB 14,395/mt, down RMB 105/mt or 0.72%. Total trading volumes were up 12,610 to 52,046 lots, and total positions grew 502 to 128,000.
LME zinc prices should fluctuate between USD 1,680-1,710/mt today, and SHFE 1510 zinc contract prices will hover between RMB 14,350-14,500/mt, with spot premiums of RMB 260-380/mt.