SHANGHAI, Nov. 2 (SMM) – SHFE 1601 zinc contract prices opened at RMB 13,990/mt last Thursday evening, then hovered around RMB 13,980/mt, and closed at RMB 13,900/mt. Trading volumes were 58,596 lots, and total positions increased 3,556 to 127,000. SHFE 1601 zinc contract prices opened at RMB 13,900/mt last Friday, then dropped to RMB 13,775/mt, and dipped to RMB 13715/mt, and closed at RMB 13,730/mt, down RMB 360/mt or 2.65%. Trading volumes were up 77,672 to 185,000 lots. Total positions increased 14,448 to 138,000.
#0 zinc prices were between RMB 13,950-13,990/mt, RMB 60-100/mt above SHFE 1512 zinc contract prices. #1 zinc traded at RMB 13,790-13,830/mt. Imported zinc prices were RMB 150-30/mt below SHFE 1512 zinc contract prices, and price spread between imported and domestic zinc widened to RMB 250/mt. Smelters held back goods on continuously falling zinc futures prices, but some smelters sold actively to generate cash. When combined with some traders selling off goods, supply was ample. #0 zinc prices were RMB 13,900-13,980/mt in the afternoon, with transactions improving.
