Chinese Lead, Zinc Scrap prices gain in line with Lead, Zinc Futures

CHINA January 28 2016 2:35 PM    

SHANGHAI (Scrap Register):  Chinese lead and zinc scrap prices gained on Scrap Register Price Index  as on Thursday in line with lead and zinc futures prices at Shanghai Futures  Exchange boosted by short-covering after robust Chinese import data and a  rebound in oil prices.

According to the Scrap Register Price Index, the  major Chinese lead and zinc scrap commodities traded down on Thursday. The major  scrap commodities like lead, lead weight, soft lead, zinc scrap, zinc die cast  (old) and zinc die cast with lead showed down trend on Thursday.

The most active 1603 zinc  contract on the Shanghai Futures Exchange settled higher by nearly 2% to 13,035  yuan per ton on Thursday from the previous close of 13,025 yuan per ton. The  SHFE zinc prices touched an intra-day high of 13,130 yuan per ton and an  intra-day low of 12,990 yuan per ton during Thursday.

The most active  1603 lead contract on the Shanghai Futures Exchange settled higher by 1.8% to  13,180 yuan per ton on Thursday from the previous close of 13,115 yuan per ton.  The SHFE lead prices touched an intra-day high of 13,265 yuan per ton and an  intra-day low of 13,105 yuan per ton during Thursday.

LME Zinc hit its  highest since early January at $1,616 and ended up 1.6 percent at $1,615. The  metal jumped after data showed China's zinc imports surged by 440 percent in  December.