SHANGHAI, Nov. 18 (SMM) –LME zinc prices opened at USD 1,593/mt on Tuesday, and hovered around USD 1,570/mt in Europe and US trade session, touching as high as USD 1,588/mt and closing at USD 1,539/mt, down USD 48/mt. Trading volumes were up 5,502 to 13,026, and total positions increased 1,613 to 287,000.
SHFE 1601 zinc contract prices opened at RMB 12,680/mt Tuesday evening, then inched up to RMB 12,775/mt, and closed at RMB 12,585/mt, down RMB 95/mt. Trading volumes were 260,000 lots, and total positions decreased 1,992 to 230,000.
LME zinc prices are expected to slide to USD 1,530-1,560/mt today. SHFE 1601 zinc contract prices will hover between RMB 12,400-12,600/mt, with spot prices RMB 350-450/mt above SHFE 1601 zinc contract prices.