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

Published: Nov 11, 2015 10:04

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LME zinc prices opened at USD 1,643/mt on Tuesday, and fell to USD 1,576/mt, a new low since July 2009.

SHANGHAI, Nov. 11 (SMM) –LME zinc prices opened at USD 1,643/mt on Tuesday, and fell to USD 1,576/mt, a new low since July 2009. LME zinc prices clawed back some losses and closed at USD 1,606/mt, down USD 33/mt or 2.01%. Trading volumes were up 10,925 to 108,768, and total positions increased 517 to 284,000.

SHFE 1601 zinc contract prices opened at RMB 13,200/mt Tuesday evening, then dropped to a low of RMB 12,790/mt, and closed at RMB 13,055/mt, down RMB 210/mt or 1.58%. Trading volumes surged 82,000 to 519,000 lots, and total positions increased 21,000 to 206,000.

LME zinc prices are expected to move between USD 1,590-1,620/mt today. SHFE 1601 zinc contract prices will hover between RMB 12,950-13,150/mt, with spot prices RMB 260-300/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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