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.