SMM Zinc Market Morning Review (2015-9-30)

Published: Sep 30, 2015 10:00 (GMT+8)

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LME zinc prices opened at USD 1,633/mt on Tuesday, and fell to USD 1,617.5/mt.

SHANGHAI, Sept. 30 (SMM) – LME zinc prices opened at USD 1,633/mt on Tuesday, and fell to USD 1,617.5/mt. As Glencore rose 20%, market concerns eased, helping LME zinc prices to rally, with prices closing at USD 1,664.5/mt, up USD 26.5/mt or 1.62%. Trading volumes were down 2,751 to 9,629 lots, and total positions increased 614 to 290,000.

SHFE 1512 zinc contract prices opened at RMB 13,570/mt Tuesday evening, with price volatility around RMB 30/mt, and closed at RMB 13,570/mt, up RMB 170/mt or 1.27%. Trading volumes were 31,808 lots. Total positions decreased 1,164 to 150,000.

LME zinc prices are expected to move between USD 1,650-1,670/mt today. SHFE 1512 zinc contract prices will hover between RMB 13,500-13,650/mt, with spot prices RMB 200-220/mt above SHFE 1511 zinc contract prices. Spot premiums of Shuangyan #0 zinc will be RMB 350-400/mt.

LME zinc prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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