SMM Zinc Market Morning Review (2015-9-18)

SHANGHAI, Sept. 18 (SMM) – LME zinc prices opened at USD 1,751/mt overnight, then dipped to USD 1,705/mt at one point, but rallied and closed at USD 1,736/mt, down USD 4.5/mt. Total trading volumes were down 644 to 10,506 lots, and total positions decreased 5,379 to 272,077.

SHFE 1511 zinc contract prices opened at RMB 14,380/mt Thursday evening, then edged down to RMB 14,345/mt, and climbed later on and closed at RMB 14,390/mt, down RMB 65/mt. Trading volumes were down 3,446 to 67,020 lots. Total positions increased 3,460 to 132,124.

LME zinc prices are expected to move between USD 1,720-1,750/mt today. SHFE 1511 zinc contract prices will hover between RMB 14,300-14,450/mt today, with spot prices RMB 40-140/mt above SHFE 1511 zinc contract prices.