SHANGHAI, May 14 (SMM) – SHFE 1507 zinc contract prices opened at RMB 17,020/mt Tuesday evening, but lacked ability to rise, and closed at RMB 17,030/mt, up RMB 125/mt or 0.74%. Trading volumes decreased 24,530 to 90,026 lots, and total positions grew 3,616 to 141,126. SHFE 1507 zinc contract prices opened at RMB 17,030/mt on Wednesday, and broke through RMB 17,100/mt in the afternoon, and closed at RMB 17,140/mt, up RMB 235/mt or 1.39%. Trading volumes decreased 15,862 to 228,200 lots, and total positions grew 6,892 to 144,402. SHFE 1507 zinc contract prices are expected to strengthen this evening.
#0 zinc prices were between RMB 16,900-16,940/mt, RMB 140-110/mt below SHFE 1507 zinc contract prices. #1 zinc was traded between RMB 16,860-16,870/mt. SHFE 1507 zinc contract prices rose RMB 200/mt to RMB 17,050/mt, with spot discounts of #0 zinc expanding from RMB 120-100/mt to RMB 140-120/mt against SHFE 1507 zinc contract prices. Downstream buying interest was weak, leading to slow sales at smelters, with overall transactions quiet. Shuangyan and Huize #0 zinc prices were RMB 16,930-16,940/mt, RMB 120-110/mt below SHFE 1507 zinc contract prices. Yuguang #0 zinc prices were RMB 16,910-16,920/mt, RMB 120/mt below SHFE 1507 zinc contract prices. Qilin, Jiulong and Qinxin #0 zinc prices were RMB 16,900-16,920/mt, with spot discounts of RMB 140-120/mt against SHFE 1507 zinc contract prices. Baohui, Bailing and SMC #0 zinc prices were RMB 16,880-16,890/mt, with spot discounts of RMB 170-150/mt against SHFE 1507 zinc contract prices. Indian #0 zinc prices were RMB 16,870-16,880/mt, with spot discounts of RMB 180-170/mt against SHFE 1507 zinc contract prices. SHFE 1507 zinc contract prices edged up in the afternoon, with spot discounts widening RMB 20/mt to RMB 140-150/mt for Shuangyan zinc.
