SMM Zinc Market Morning Review (2015-9-21

SHANGHAI, Sept. 21 (SMM) – LME zinc prices opened at USD 1,735/mt last Friday, then fluctuated between USD 1,730-1,740/mt, and dropped below USD 1,700/mt later the day, and closing at USD 1,678/mt, down USD 58/mt or 3.34%. Total trading volumes were up 2,003 to 12,509 lots, and total positions increased 3,236 to 275,313.

SHFE 1511 zinc contract prices opened at RMB 14,200/mt last Friday evening, then plunged to as low as RMB 13,960/mt, their lowest since October 2011, and closed at RMB 14,015/mt, down RMB 295/mt or 2.06%. Trading volumes were 115,146 lots. Total positions increased 13,800 to 149,284.

LME zinc prices are expected to move between USD 1,660-1,720/mt today. SHFE 1511 zinc contract prices will hover between RMB 13,950-14,150/mt, with spot prices RMB 220-350/mt above SHFE 1511 zinc contract prices.