SMM Zinc Market Daily Review (2015-11-5)

Published: Nov 6, 2015 10:56

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SHFE 1601 zinc contract prices surged to RMB 13,875/mt Wednesday evening, then dropped on soaring US dollar, and closed at RMB 13,625/mt, down RMB 40/mt.

SHANGHAI, Nov. 6 (SMM) – SHFE 1601 zinc contract prices surged to RMB 13,875/mt Wednesday evening, then dropped on soaring US dollar, and closed at RMB 13,625/mt, down RMB 40/mt. Trading volumes were 152,000 lots, and total positions increased 6,918 to 156,000. SHFE 1601 zinc contract prices opened at RMB 13,625/mt on Thursday, and fell to a record low of RMB 13,515/mt, and closed at RMB 13,530/mt, down RMB 135/mt or 0.99%. Trading volumes were up 48,012 to 320,000 lots. Total positions increased 9,272 to 158,000.

#0 zinc prices were between RMB 13,750-13,860/mt, RMB 90-160/mt above SHFE 1512 zinc contract prices. #1 zinc traded at RMB 13,650-13,670/mt. SHFE 1512 zinc contract prices lacked impetus to rise and fell to RMB 13,650-13670/mt, but spot premiums remained stable. Some smelters held back goods on falling zinc prices, leading to supply tightness of some brands and widening price spreads. Imported zinc availability was limited, with spot discounts narrowing further to as low as RMB 20/mt. Traders were active, but downstream buying interest did not improve. #0 zinc prices were RMB 13,690-13,820/mt in the afternoon, and SHFE 1512 zinc contract prices plummeted, allowing spot premiums to rise. Traders sold actively, and downstream buying interest improved, activating overall transactions.

SHFE zinc prices

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