SMM Zinc Market Morning Review (2015-9-14)-Shanghai Metals Market

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SMM Zinc Market Morning Review (2015-9-14)

Price Review & Forecast 10:49:35AM Sep 14, 2015 Source:SMM

SHANGHAI, Sept. 14 (SMM) –LME zinc prices opened at USD 1,814/mt last Friday, and surged to USD 1,793/mt at one point, and closed at USD 1,819/mt, up USD 6.5/mt or 0.36%. Total trading volumes were down 2,746 to 8,098 lots, and total positions increased 399 to 286,000. LME zinc inventories fell 3,150 to 571,975 mt.

SHFE 1511 zinc contract prices opened at RMB 14,825/mt last Friday evening, then dipped to RMB 14735/mt with LME zinc prices but then rallied to RMB 14,800/mt, and closed at RMB 14,830/mt, down RMB 50/mt or 0.34%. Trading volumes were down 10,430 to 44,952 lots, and total positions decreased 1,546 to 132,212.

LME zinc prices are expected to move between USD 1,800-1,830/mt today. SHFE 1511 zinc contract prices will hover between RMB 14,780-14,880/mt today, with spot prices RMB 40-0/mt below SHFE 1510 zinc contract prices and ranging from RMB 30/mt below to RMB 20/mt above SHFE 1510 zinc contract prices. 


Key Words:  LME zinc prices 

SMM Zinc Market Morning Review (2015-9-14)

Price Review & Forecast 10:49:35AM Sep 14, 2015 Source:SMM

SHANGHAI, Sept. 14 (SMM) –LME zinc prices opened at USD 1,814/mt last Friday, and surged to USD 1,793/mt at one point, and closed at USD 1,819/mt, up USD 6.5/mt or 0.36%. Total trading volumes were down 2,746 to 8,098 lots, and total positions increased 399 to 286,000. LME zinc inventories fell 3,150 to 571,975 mt.

SHFE 1511 zinc contract prices opened at RMB 14,825/mt last Friday evening, then dipped to RMB 14735/mt with LME zinc prices but then rallied to RMB 14,800/mt, and closed at RMB 14,830/mt, down RMB 50/mt or 0.34%. Trading volumes were down 10,430 to 44,952 lots, and total positions decreased 1,546 to 132,212.

LME zinc prices are expected to move between USD 1,800-1,830/mt today. SHFE 1511 zinc contract prices will hover between RMB 14,780-14,880/mt today, with spot prices RMB 40-0/mt below SHFE 1510 zinc contract prices and ranging from RMB 30/mt below to RMB 20/mt above SHFE 1510 zinc contract prices. 


Key Words:  LME zinc prices