Zinc-SHMET Spot Market Briefing20150831

Date 8/31/2015 2:17:47 PM Source: shmet

Shanghai spot zinc 0# was quoted at 14880-14940 rmbs per ton, unchanged with a back of 150-210 rmbs per ton; 1# zinc was quoted at 14820-14880 rmbs per ton, unchanged from yesterday with a back of 90-150 rmbs per ton. The metals finished the week on a high after a volatile trading that started from Monday. Zinc trading range seen at 1833.5-1753.5 dollars and following yesterday’s large increase in cancellations in New Orleans, the spreads have tightened-cash/3 was last at 50b/50c Sep-3m last at 2b dollars. Other news lifting prices- Australian officials threatened to close the giant McArthur River zinc mine owned by Glencore. LME stocks and cancelled warrants were both down 2000 tonnes at 522875 tons and 149675 tons respectively. Today the downstream purchasing wills got slightly stronger but their offers were low in general. Despite the buyers were a lot but the trading volume increased little.


Edited by SHMET