SMM Zinc Market Morning Review (2015-11-13)

Published: Nov 13, 2015 09:55

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LME zinc prices opened at USD 1,622/mt on Thursday, and fell to USD 1,585.5/mt in Europe and US trade session, but rallied later on and closed at USD 1,611/mt, down USD 16/mt.

SHANGHAI, Nov. 13 (SMM) –LME zinc prices opened at USD 1,622/mt on Thursday, and fell to USD 1,585.5/mt in Europe and US trade session, but rallied later on and closed at USD 1,611/mt, down USD 16/mt. Trading volumes were up 985 to 14,048, and total positions surged 6,095 to 289,000.

SHFE 1601 zinc contract prices opened at RMB 12,870/mt Thursday evening, then touched a high of RMB 13,125/mt, and closed at RMB 13,005/mt, up RMB 75/mt. Trading volumes were 520,000 lots, and total positions decreased 4,000 to 219,000.

LME zinc prices are expected to move between USD 1,590-1,620/mt today. SHFE 1601 zinc contract prices will hover between RMB 12,900-13,100/mt, with spot prices RMB 260-320/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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