SHANGHAI, Nov. 11 (SMM) – 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. SHFE 1601 zinc contract prices opened at RMB 13,415/mt on Tuesday, and hovered around RMB 13,350/mt after opening, then plunged to RMB 13050/mt later the day, the lowest since July 2009. Nevertheless, some shorts left the market after profit-taking at the end of trade, so SHFE 1601 zinc contract prices closed at RMB 13,225/mt, down 2.18%. Trading volumes were up 129,000 to 436,000 lots. Total positions increased 20,278 to 185,000.
#0 zinc prices were between RMB 13,420-13,560/mt, RMB 170-270/mt above SHFE 1512 zinc contract prices. #1 zinc traded at RMB 13,250-13,380/mt. Imported zinc were RMB 30/mt below or RMB 70/mt above SHFE 1601 zinc contract prices. Some smelters held back goods, raising spot premiums. Traders sold proactively, and downstream buyers purchased at lower prices. Most trading was made for imported zinc.