Shanghai China Zinc Prices Summary

on May 31st, 2010 at 4:55 pm

WorldScrap- spurred by the decreasing risk of Spain credit and the worry about the EU debt crisis, London Metal Exchange (LME) showed that zinc futures closed high, on 28th, and finally closed at 1,925 points, down by 10 points, or 0.52%. LME stockpiles, on Friday, dropped 750 tons, totally to 619,000 tons.

Shanghai zinc opened low and raised today, weak pullback. Contract 1009 closed at 16,050 points, down by 110 points, or
0.68%, trading at 15,945 to 16,275, positions increased 40,598 hands, volume rose sharply.

On the spot market, the Yangtze 1 # zinc 15,600-15,650 RMB/T, down by 100 RMB/T; Shanghai 1 # zinc 15,550-15,650 RMB/T, unchanged from last trading day; Guangdong Nanchu 1 # zinc 15,350-15,650 RMB/T, unchanged from last trading day.

Today, the domestic zinc market was stable. Watching attitudes were strong in the market. The overall transaction in the spot market was not good. Latest Market Price: shred zinc (84-86%) 12,500-12,700 RMB/T, unchanged from the previous trading day.

(1RMB=0.1465USD) | source www.worldscrap.com