SMM Zinc Market Morning Review (2015-9-10)

SHANGHAI, Sept. 10 (SMM) –LME zinc prices opened at USD 1,813/mt on Wednesday, testing USD 1,840/mt but fell back, and dropped to USD 1,815/mt and closed at USD 1,817/mt, down USD 3/mt or 0.16%.

SHFE 1511 zinc contract prices opened at RMB 14,960/mt Wednesday evening, then rolled back early gains and closed at RMB 14,845/mt, down RMB 60/mt. Total trading volumes were down 44,056 to 38,628 lots, and total positions decreased 508 to 124,000.

LME zinc prices are expected to move between USD 1,795-1,825/mt today. SHFE 1511 zinc contract prices will hover between RMB 14,700-14,900/mt today, with spot prices ranging from RMB 30/mt below to RMB 30/mt above SHFE 1510 zinc contract prices.