LIVE FUTURES REPORT 21/04: SHFE zinc rebounds as supply-side issues re-emerge

Base metals traded on the Shanghai Futures Exchange were split during Asian morning trading on Friday April 21, with zinc, copper and aluminium pushing higher, while the rest trended downwards.

Zinc lead the gains higher as supply side issues re-emerged. The SHFE June zinc price climbed 115 yuan ($16.70) to 21,885 yuan per tonne as of 03:00 GMT, compared with the previous session’s closing price of 21,770 yuan per tonne. "Data released by China’s NBS showed its domestic zinc production fell to 504,000 tonnes in March, the lowest level in a year as smelters conducted maintenance during the recent ore shortage," ANZ Research said on Friday. Aluminium prices were marginally higher on news that production at Vedanta’s 500,000 tpy plant-1 smelter at Jharsuguda (Jharsuguda-I)...

Published

Echo Ma

April 21, 2017

04:50 GMT

Shanghai