Shanghai Spot Zinc Market Slackens on Month-end Cash Crunch, SMM Reports

Published: Jun 1, 2017 16:33

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Spot trading in Shanghai market was slack on May 30 due to month-end liquidity crunch and soft demand, SMM reported.

SHANGHAI, Jun. 1 (SMM) - Spot trading in Shanghai market was slack on May 30 due to month-end liquidity crunch and soft demand, SMM reported.

Downstream buyers mainly worked through inventories built before the Chinese Dragon Boat Festival during May 28-30. Traders purchased modestly and sold actively. They have yet to execute term orders, and some were still on holiday.

Lead-Zinc Mines, Smelters in Hunan Return to Production after Environmental Protection, SMM Reports

Zinc smelters sold proactively. When combined with influx of imported zinc, goods available increased.

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#0 zinc was traded at 22,850-23,000 yuan per tonne on Wednesday, 50-170 yuan per tonne above June zinc on the SHFE, with spot premiums narrowing 30 yuan per tonne.

#1 zinc traded at 22,800-22,850 yuan per tonne.

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