SHANGHAI, Sept. 9 (SMM) – Market sentiment improved as global stocks markets rose.LME zinc prices opened at USD 1,771.5/mt on Tuesday. China’s import and export data in August were downbeat in August, with imports posting the biggest drop in five months and exports continuing falling. In this context, LME zinc prices dipped to USD 1,771.5/mt at one point. During Asian trading session, LME zinc prices soared to USD 1,800/mt and closed at USD 1,820/mt, up USD 50/mt or 2.82%. Trading volumes increased 3,126 to 9,622 lots, and total positions decreased 1,386 to 286,000. LME zinc inventories grew 775 to 553,425 mt.
SHFE 1511 zinc contract prices opened at RMB 14,730/mt Tuesday evening, then rose to RMB 14,820-14,870/mt and closed at RMB 14,840/mt, up RMB 230/mt or 1.57%. Total trading volumes were up 42,812 to 82,684 lots, and total positions increased 1,584 to 127,234.
LME zinc prices are expected to move between USD 1,800-1,830/mt today. SHFE 1511 zinc contract prices will hover between RMB 14,750-14,950/mt today, with spot prices ranging from RMB 30/mt below to RMB 20/mt above SHFE 1510 zinc contract prices.