SMM Zinc Market Morning Review (2015-10-30)

Oct 30, 2015 10:08

Source:SMM

LME zinc prices opened at USD 1,736/mt on Thursday, then dropped to a low of RMB 1,702.5/mt, and closed at USD 1,704.5/mt, down USD 32.5/mt or 1.87%.

SHANGHAI, Oct. 30 (SMM) –LME zinc prices opened at USD 1,736/mt on Thursday, then dropped to a low of RMB 1,702.5/mt, and closed at USD 1,704.5/mt, down USD 32.5/mt or 1.87%. Trading volumes were up 1,239 to 8,562, and total positions decreased 1,039 to 287,000.

SHFE 1601 zinc contract prices opened at RMB 13,990/mt Thursday evening, and plummeted to RMB 13,895/mt, but rallied to RMB 13,950/mt later the day, and closed at RMB 13,900/mt. Trading volumes were 58,596 lots, and total positions increased 3,556 to 127,000.

LME zinc prices are expected to move between USD 1,685-1,715/mt today. SHFE 1601 zinc contract prices will hover between RMB 13,850-14,050/mt, with spot prices RMB 50-100/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.

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SMM Zinc Market Morning Review (2015-10-30)

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