SHANGHAI, Sept. 17 (SMM) – SHFE 1511 zinc contract prices opened at RMB 14,365/mt Tuesday evening, then fluctuated between RMB 14,330-14,460/mt, and closed at RMB 14,455/mt, down RMB 20/mt or 0.14%. Trading volumes were up 3,310 to 76,126 lots. Total positions increased 1,650 to 130,082. SHFE 1511 zinc contract prices opened at RMB 14,430/mt on Wednesday, and inched down to RMB 14,310/mt. As the Shanghai Composite Index surged 4.89%, SHFE 1511 zinc contract prices clawed back some early losses and closed at RMB 14,440/mt, down RMB 35/mt or 0.24%. Trading volumes decreased 18,486 to 147,000 lots, and total positions grew 1,938 to 130,000.
#0 zinc prices were between RMB 14,440-14,570/mt, RMB 50-170/mt above SHFE 1511 zinc contract prices. #1 zinc traded at RMB 14,310-14,320/mt. Discounts of imported zinc were RMB 90-40/mt. Smelters held back goods as zinc prices fell, and market players mostly refrained from buying, leaving trading quiet. Downstream buyers remained reticent in the afternoon.