SHANGHAI, Sept. 9 (SMM) – 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.
SHFE 1511 zinc contract prices opened at RMB 14,640/mt Tuesday, then fluctuated between RMB 14,580-14,620/mt. In the afternoon, SHFE 1511 zinc contract prices dipped to RMB 14,550/mt, but raced up due to soaring Shanghai Composite Index, and closed at RMB 14,630/mt, down RMB 125/mt or 0.85%. Trading volumes increased 74,298 to 123,000 lots, and Total positions grew 5,062 to 126,000.
#0 zinc prices were between RMB 14,680-14,740/mt, RMB 30-100/mt above SHFE 1510 zinc contract prices. #1 zinc traded at RMB 14,540-14,570/mt. Imported #0 zinc prices were RMB 140-100/mt below SHFE 1510 zinc contract prices. Spot premiums did not rise despite plunging SHFE zinc prices. Trading was brisk in the morning, with traded prices between RMB 14,650-14,720/mt. Discounts of imported zinc remained largely unchanged. A large number of downstream buyers and traders entered the market at lows, improving overall transactions.