SMM Zinc Market Morning Review (2015-11-10)

Published: Nov 10, 2015 11:04

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LME zinc prices opened at USD 1,661/mt on Monday, and reached USD 1,674/mt in Asian trading session, but rolled back early gains in Europe and US trade session, and closed at USD 1,639.5/mt.

SHANGHAI, Nov. 10 (SMM) –LME zinc prices opened at USD 1,661/mt on Monday, and reached USD 1,674/mt in Asian trading session, but rolled back early gains in Europe and US trade session, and closed at USD 1,639.5/mt, down USD 25.5/mt. Trading volumes were down 1,145 to 7,843, and total positions increased 798 to 284,000.

SHFE 1601 zinc contract prices opened at RMB 13,540/mt Monday evening, then hovered around RMB 13,500/mt, and closed at RMB 13,415/mt, down RMB 105/mt. Trading volumes were 90,000 lots, and total positions increased 4,390 to 169,000.

LME zinc prices are expected to move between USD 1,630-1,660/mt today. SHFE 1601 zinc contract prices will hover between RMB 13,300-13,500/mt, with spot prices RMB 180-250/mt above SHFE 1601 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 communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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