SMM Zinc Market Morning Review (2015-10-29)

Oct 29, 2015 10:05

Source:SMM

LME zinc prices opened at USD 1,740.5/mt on Wednesday, then dropped to RMB 1,722/mt, but clawed back early losses as crude oil prices surged over 6%, and closed at USD 1,737/mt.

SHANGHAI, Oct. 29 (SMM) –LME zinc prices opened at USD 1,740.5/mt on Wednesday, then dropped to RMB 1,722/mt, but clawed back early losses as crude oil prices surged over 6%, and closed at USD 1,737/mt, down USD 4.5/mt or 0.26%. Trading volumes were up 2,369 to 7,323, and total positions decreased 518 to 287,849.

SHFE 1512 zinc contract prices opened at RMB 14,080/mt Wednesday evening, then hovered around RMB 14,180/mt, and closed at RMB 14,200/mt, up RMB 50/mt. Trading volumes were 137,000 lots, and total positions decreased 1,164 to 130,000.

LME zinc prices are expected to move between USD 1,710-1,740/mt today. SHFE 1512 zinc contract prices will hover between RMB 14,050-14,200/mt, with spot prices RMB 10-60/mt above SHFE 1512 zinc contract prices.

LME zinc prices

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SMM Zinc Market Morning Review (2015-10-29)

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