SHFE Zinc Prices Close with Gains (Mar. 17, 2016)

SHANGHAI, Mar. 16 (SMM) – The Fed left interest rate untouched in March, in line with market expectations, and hints there will be two interest rate hikes this year. The US dollar index plummeted below 96, driving up base metals.

SHFE 1605 zinc contract prices opened at RMB 13,930/mt on Wednesday evening, and closed at RMB 14,020/mt, up RMB 90/mt. Trading volumes were only 175,000 lots, with positions down 2,036 to 167,000.

SHFE 1605 zinc opened high and edged up to RMB 14,100/mt, and closed at RMB 14,170/mt, up RMB 240/mt or 1.72%. Positions of SHFE 1605 zinc were down 9,572 to 159,360, and those for SHFE 1606 zinc grew 11,768 to 102,908 lots.