SHANGHAI, Sept. 17 (SMM) – LME zinc prices opened at USD 1,735.5/mt overnight, then stabilized during Asian trading session. Crude oil prices soared 5%, helping improve market sentiment. LME zinc prices touched USD 1,755/mt and closed at USD 1,740.5/mt, up USD 2.5/mt. Total trading volumes were down 6,295 to 11,150 lots, and total positions decreased 10,404 to 277,456.
SHFE 1511 zinc contract prices opened at RMB 14,400/mt Wednesday evening, then edged up to RMB 14,540/mt, and closed at RMB 14,490/mt, up RMB 95/mt or 0.66%. Trading volumes were down 5,680 to 70,466 lots. Total positions decreased 2,066 to 128,000.
LME zinc prices are expected to move between USD 1,740-1,770/mt today. SHFE 1511 zinc contract prices will hover between RMB 14,450-14,600/mt today, with spot prices RMB 40-120/mt above SHFE 1511 zinc contract prices.