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

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.