SMM Zinc Market Morning Review (2015-8-28)

SHANGHAI, Aug. 28 (SMM) –LME zinc prices opened at USD 1,686/mt on Thursday, then rose to USD 1,765/mt during European and US trading session, and closed at USD 1,750/mt, up USD 68/mt or 4.04%. Trading volumes increased 1,324 to 12,297 lots, and total positions decreased 3,258 to 299,365. LME zinc inventories fell 1,875 to 524,875 mt.

SHFE 1510 zinc contract prices opened at RMB 14,560/mt Thursday evening, then edged up to  RMB 14,650/mt and closed at RMB 14,645/mt, up RMB 245/mt or 1.7%. Total trading volumes were up 12,182 to 64,228 lots, and total positions declined 5,166 to 116,086. Total positions on SHFE zinc shrank over 10,000 to 318,112.

LME zinc prices should fluctuate between USD 1,730-1,770/mt today, and SHFE 1510 zinc contract prices will hover between RMB 14,500-14,750/mt, with spot premiums of RMB 220-280/mt.