LIVE FUTURES REPORT 20/03: SHFE zinc up on expectations of supply shortage; Al down amid rising stocks

Zinc prices on the Shanghai Futures Exchange were higher during Asian morning trading on Monday March 20, amid expectations of a supply shortage following an announcement by Chinese zinc smelters that they would bring about maintenance procedures affecting 540,000 tonnes of annualised production for an unspecified period of time.

In response to the announcement, zinc has outperformed this morning, with the SHFE May zinc contract up 1.89% or 440 yuan to 23,730 yuan per tonne as of 02:00 GMT. However, buying interest for zinc remained fairly weak as many downstream buyers adopted a wait-and-see stance, according to a trader. Copper supply issues show no sign of easing; Al under pressure from rising stocks The SHFE May copper contract rose 120 yuan to 48,060 yuan. The red metal...

Published

Echo Ma

March 20, 2017

03:45 GMT

Shanghai