Spot zinc buyers stockpile ahead of Labour Day

Published: Apr 27, 2018 16:09 (GMT+8)

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Cargos with invoices for May traded more actively than that with April invoices while downstream buyers stockpiled on Friday April 27 before the Labour Day holiday, SMM learned.

SHANGHAI, Apr 27 (SMM) – Cargos with invoices for May traded more actively than those with April invoices while downstream buyers stockpiled on Friday April 27 before the Labour Day holiday, SMM learned.

In Shanghai, #0 zinc mostly traded at 24,020-24,140 yuan/mt. The 0# common brands with invoices for May were offered at a premium of 150-170 yuan/mt over the SHFE 1805 contract with 0# Shuangyan at a premium of 170-190 yuan/mt. Offers and trading for cargos with April invoices were scarce. Most #1 zinc traded at 23,980-24,060 yuan/mt.

In the Guangdong market, #0 zinc mostly traded at 24,000-24,160 yuan/mt. The Guangdong-Shanghai price spread remained flat from the previous day, at a discount of 50-40 yuan/mt. Cargoes with invoices for May mostly traded at a premium of 150-200 yuan/mt over the SHFE 1806 contract, largely unchanged from the previous day.

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