SHFE 1705 Zinc Closes with Big Losses (2017-4-7)

SHANGHAI, Apr. 7 (SMM) – SHFE 1705 zinc opened at RMB 22,495/mt today, and then edged up to RMB 22,670/mt, reaching RMB 22,805/mt. after absorption of Xiongan news and government announcement to forbid large scale of property development in the area pushed down ferrous metals. SHFE 1705 zinc dipped to RMB 22,030/mt and and closed at RMB 22,150/mt, down RMB 910/mt or 3.95%.

Trading volumes on SHFE 1705 zinc increased 316,000 to 546,000, and positions decreased 34,598 to 227,000. TSHFE 1705 zinc is expected to test support from RMB 22,000/mt this evening.