SHANGHAI, Aug. 28 (SMM) –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%. SHFE 1510 zinc contract prices fluctuated between RMB 14,420-14,450/mt on Thursday morning. As China’s A-share market rose in the afternoon, SHFE 1510 zinc contract prices rallied and closed at RMB 14,470/mt, down RMB 30/mt or 0.21%. Trading volumes increased 49,918 to 153,528 lots, and total positions decreased 6,168 to 121,252.
#0 zinc prices were between RMB 14,690-14,750/mt, RMB 270-330/mt above SHFE 1510 zinc contract prices. #1 zinc supply was tight, with prices of RMB 14,620-14,630/mt. Spot premiums of imported #0 zinc were RMB 0-120/mt against SHFE 1510 zinc contract prices. Spot premiums weakened on sufficient supply, with the price spread between domestic and imported zinc narrowing further. Trading was quiet in the morning, with traded prices between RMB 14,640-14,780/mt in the afternoon. Smelters and traders sold proactively, but purchases were limited.