SHANGHAI, Sept. 8 (SMM) –LME zinc prices opened at USD 1,786/mt on Monday, then edged up to USD 1,800/mt during Asian trading session. Despite a string of stimulus measures from China, Asia-Pacific stocks continued to plunge. LME zinc prices dipped to USD 1,763.5/mt in the evening and closed at USD 1,770/mt, down USD 17/mt or 0.95%. Trading volumes increased 1,406 to 6,496 lots, and total positions decreased 1,292 to 288,000. LME zinc inventories grew 25,775 to 552,650 mt.
SHFE 1511 zinc contract prices opened at RMB 14,730/mt Monday evening, then fell all the way and closed at RMB 14,605/mt, down RMB 150/mt or 1.02%. Total trading volumes were up 9,080 to 39,872 lots, and total positions increased 4,064 to 125,000.
LME zinc prices are expected to move between USD 1,760-1,790/mt today. SHFE 1511 zinc contract prices will hover between RMB 14,580-14,680/mt today, with spot premiums of RMB 60-120/mt against SHFE 1510 zinc contract prices and RMB 100-160/mt against SHFE 1511 zinc contract prices.
