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

Published: Oct 30, 2015 10:08

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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

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