SMM Zinc Market Morning Review (2015-11-2)

Nov 2, 2015 10:23

Source:SMM

LME zinc prices opened at USD 1,703/mt last Friday, then dropped to RMB 1,690/mt, and dipped to a three-week low of USD 1,685/mt, and closed at USD 1,711/mt, up USD 6.5/mt.

SHANGHAI, Nov. 2 (SMM) –LME zinc prices opened at USD 1,703/mt last Friday, then dropped to RMB 1,690/mt, and dipped to a three-week low of USD 1,685/mt, and closed at USD 1,711/mt, up USD 6.5/mt. Trading volumes were 9,458, and total positions surged 1,529 to 288,000.

SHFE 1601 zinc contract prices opened at RMB 13,705/mt last Friday evening, and closed at RMB 13,705/mt. Trading volumes were 81,160 lots, and total positions increased 7,568 to 145,000.

LME zinc prices are expected to move between USD 1,685-1,715/mt today. SHFE 1601 zinc contract prices will hover between RMB 13,600-13,750/mt, with spot prices RMB 70-110/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 (2015-11-2)

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