SHANGHAI, Nov. 5 (SMM) –SHFE 1601 zinc contract prices opened at RMB 13,650/mt Tuesday evening, then hovered between RMB 13,600-13,620/mt, and closed at RMB 13,615/mt. Trading volumes were 126,000 lots, and total positions increased 904 to 159,000. SHFE 1601 zinc contract prices opened at RMB 13,615/mt on Wednesday, then soared to RMB 13,720/mt due to short covering. With market sentiment inspired, SHFE 1601 zinc contract prices surged to RMB 13,810/mt and closed at RMB 13,780/mt, up RMB 45/mt. Trading volumes were up 110,000 to 272,000 lots. Total positions decreased 9,324 to 149,000.
#0 zinc prices were between RMB 13,810-13,890/mt, RMB 90-150/mt above SHFE 1512 zinc contract prices. #1 zinc traded at RMB 13,730-13,750/mt. Imported zinc prices were RMB 70/mt below or RMB 20/mt above SHFE 1512 zinc contract prices, with spot premiums widening RMB 10/mt. Smelters continued to hold back goods. When combined with fewer inflows of imported zinc, the price spread between domestic and imported zinc narrowed below RMB 200/mt. SHFE 1512 zinc contract prices were RMB 13,790-13,820/mt in the afternoon. Some traders purchased modestly, while downstream purchases were also limited.