Will Zinc Frenzy Ease after SHFE Price-Control? SMM Reports

Published: Aug 22, 2017 17:30

Save

Fundamentals in zinc market remain unchanged at present. When combined with strong bullishness, zinc prices will remain high in the near term, SMM said.

SHANGHAI, Aug. 22 (SMM) – Fundamentals in zinc market remain unchanged at present. When combined with strong bullishness, zinc prices will remain high in the near term, SMM said.

China to Delete Some Metals from Scrap Import Embargo List

But the SHFE released restrictions on zinc contract positions. At the meantime, inflows of imported zinc are expected after the import profit window reopens. This will impact domestic spot market.

SHFE Releases Restrictions on Zinc Contract Transaction

In this scenario, investors should be wary of technical fallbacks after longs leave the market after profit-taking, SMM warns.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

zinc prices zinc zinc imports imported zinc

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 hour ago

LME Outperforms SHFE, SHFE Zinc Edges Lower [SMM Zinc Morning Comment]

[SMM Zinc Morning Comment] Overnight, the most-traded SHFE zinc 2605 contract opened at 23,750 yuan/mt. At the beginning of the session, it briefly rose to a high of 23,785 yuan/mt. Subsequently, bears increased their open interest, and SHFE zinc fluctuated downward all the way to a low of 23,610 yuan/mt, eventually closing lower at 23,660 yuan/mt, down 130 yuan/mt or 0.55%. Trading volume decreased to 35,832 lots, while open interest increased by 860 lots to 74,221 lots.

1 hour ago

US Dollar Weakened, LME Zinc Edged Up [SMM Morning Meeting Minutes]

[SMM Morning Meeting Minutes: US Dollar Weakened, LME Zinc Edged Up] Overnight, LME zinc opened at $3,325.5/mt. Early in the session, LME zinc fluctuated upward and touched a high of $3,365.5/mt during European trading hours. Subsequently, bears increased open interest, and the LME zinc center shifted downward, hitting a low of $3,314.5/mt during the night session. Bears then reduced open interest, lifting the center, and LME zinc ultimately closed higher at $3,340/mt, up $17/mt, a gain of 0.51%. Trading volume rose to 10,950 lots, and open interest fell by 2,418 lots to 215,000 lots.

1 hour ago

15 hours ago

Resources, Cost, and Performance: Assessment of the Future Market Landscape for Zinc Alloys and Brass

[ Resources, Cost, and Performance: Assessment of the Future Market Landscape for Zinc Alloys and Brass] Against the backdrop of supply chain security, the in-depth advancement of the dual-carbon strategy, and industrialization in China, zinc alloys and brass, as industrial metals, are both used in end-user industrial metal manufacturing. Mutual substitution between the two has been increasing......

15 hours ago