SHANGHAI, Oct. 23 (SMM) – SHFE 1512 zinc contract prices opened at RMB 14,150/mt Wednesday evening, and fell to as low as RMB 13,840/mt and closed at RMB 13,840/mt. Total positions were 163,000. SHFE 1512 zinc contract prices opened at RMB 13,995/mt on Thursday, and fluctuated in a RMB 30/mt range, and closed at RMB 14,020/mt, down RMB 235/mt, down 1.65%. Trading volumes surged 272,000 to 527,000 lots. Total positions decreased 2,066 to 160,000.

#0 zinc prices were between RMB 14,130-14,170/mt, RMB 120-160/mt above SHFE 1512 zinc contract prices. #1 zinc traded at RMB 13,980-14,000/mt. Imported zinc prices ranged from RMB 0-70/mt below above SHFE 1512 zinc contract prices. Smelters sold some goods as zinc prices plunged. When combined with a large inflow of imported goods, supply was ample, weighing on spot premiums. Downstream buyers purchased as needed, with trading muted and spot premiums between RMB 130-160/mt in the afternoon.