SHANGHAI, Sept. 1 (SMM) – The LME market was closed yesterday due to the summer bank holiday.
SHFE 1511 zinc contract prices opened at RMB 14,610/mt Monday evening, then dipped to RMB 14,565/mt, but raced up to RMB 14700/mt due to short covering and closed at RMB 14,690/mt, down RMB 40/mt or 0.27%. Total trading volumes were down 24,000 to 21,140 lots, and total positions declined 142 to 118,758.
LME market reopened today, with prices expected to move between USD 1,780-1,820/mt. SHFE 1511 zinc contract prices will hover between RMB 14,580-14,750/mt today, with spot premiums of RMB 90-150/mt.