SHANGHAI, Jun. 4 (SMM) – SHFE 1508 zinc contract prices opened at RMB 16,400/mt Wednesday evening, then hovered around RMB 16,400/mt, and closed at RMB 16,380/mt, down RMB 105/mt or 0.64%. Trading volumes decreased 16,624 to 48,086 lots, and total positions dropped 1,594 to 136,920.
SHFE 1508 zinc contract prices opened at RMB 16,375/mt on Thursday, then inched down and dipped to an intraday low of RMB 16,285/mt as a large number of longs left the market. Later the day, SHFE 1508 zinc contract prices found some support from bargain hunters but met resistance at the 60-day moving average, and closed at RMB 16,405/mt, down RMB 80/mt or 0.49%. Trading volumes decreased 53,938 to 126,954 lots, and total positions fell 4,762 to 133,752. SHFE 1508 zinc contract prices are expected to fall further this evening.
