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

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.