Home / Metal News / SMM Zinc Market Morning Review (2015-10-29)

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

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

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news