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

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.