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Home / Metal News / SHFE 1610 zinc Closes with Gains (2016-8-16)

SHFE 1610 zinc Closes with Gains (2016-8-16)

Aug 16, 2016 17:33

Source:SMM

LME zinc closed at USD 2,263.5/mt yesterday.

SHANGHAI, Aug. 16 (SMM) – LME zinc closed at USD 2,263.5/mt yesterday. Trading volumes decreased 1,963 to 10,208 lots, and positions were down 3,706 to 327,400. As of 16:16 on Tuesday, LME zinc closed at USD 2,265/mt, up USD 1.5/mt or 0.07%.

SHFE 1610 zinc closed at RMB 17,390/mt overnight, up RMB 115/mt. Positions of SHFE 1610 zinc decreased 8,000 to 270,300. SHFE 1610 zinc fluctuated around RMB 17,350/mt after opening today, and closed at RMB 17,335/mt, up RMB 60/mt or 0.35%. Trading volumes decreased 111,000 to 289,000 lots, and positions on SHFE 1610 zinc decreased 8,300 to 262,000.

Spot discounts on #0 zinc were RMB 30-10/mt, flat at Monday. Downstream buying interest was weak.

SHFE zinc prices

LME zinc prices

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LME zinc will consolidate between USD 2,760-2,800/mt today, and SHFE 1705 zinc should fluctuate between moving averages and find support from the 60-day moving average, hovering between RMB 22,850-23,

Apr 6, 2017 09:18

SMM Comments

SHFE Zinc Prices to Experience Corrections (2017-4-6)

SHFE Zinc Prices to Stay Range-Bound (2017-3-6)

LME zinc will move between USD 2,760-2,810/mt today, and SHFE 1705 zinc should fluctuate between RMB 22,500-22,900/mt today, with spot prices RMB 110-80/mt below SHFE 1704 zinc.

Mar 6, 2017 09:47

SMM Comments

SHFE Zinc Prices to Stay Range-Bound (2017-3-6)

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Profit at China’s large industrials was upbeat in November, helping base metals stabilize.

Dec 27, 2016 17:02

SMM Comments

SHFE Zinc to Remain Range-Bound (2016-12-2)

US November non-farm employment due for release today is promising, which will support the US dollar index.

Dec 2, 2016 09:29

SMM Comments

Zinc to Consolidate at Highs Next Week, SMM Says

LME zinc is expected to hover at highs between $2,250-2,320 per tonne next week, and SHFE October zinc will trade between 17,300-17,900 yuan per tonne, SMM foresees.

Aug 19, 2016 13:34

SMM Insight

About 23% Chinese Investors Bullish toward Zinc, SMM Survey

SMM survey of 30 industry insiders finds that 50% are neutral, expecting LME zinc to fluctuate between USD 2,230-2,290/mt and SHFE 1609 zinc to fluctuate between RMB 17,200-17,600/mt.

Jul 26, 2016 10:14

SMM Comments

LME Zinc to Fall Initially before Rallying Next Week

LME zinc is expected to weaken early next week but then rally, moving in the $1,980-2,080 per tonne range, SMM predicts.

Jun 17, 2016 15:27

SMM Insight

47% Chinese Investors Bullish toward Zinc Price, SMM Survey

SMM survey of 30 industry insiders finds that about 47% are bullish toward zinc price trends this week, expecting LME zinc to challenge USD 2,050/mt.

Jun 7, 2016 09:36

SMM Comments

SHFE Zinc to Fluctuate at Highs (2016-4-5)

Crude oil price weakened.

Apr 5, 2016 09:39

SMM Comments

SHFE Zinc to Edge up (2016-4-1)

The US dollar index is expected to fall further as non-farm employment data in the US are not promising.

Apr 1, 2016 09:27

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SHFE 1610 zinc Closes with Gains (2016-8-16)

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2025 SMM (20th) Lead & Zinc Conference and Industry Expo