SMM Zinc Market Daily Review (2015-10-22)

Published: Oct 23, 2015 09:36

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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.

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.

SHFE 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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