SMM Brief on SHFE Zinc Futures (2012-12-11)

SHANGHAI, Dec. 11 (SMM) – The SHFE 1302 zinc contract started the day higher at RMB 15,660/mt on December 11. The most active SHFE zinc contract briefly touched a high of RMB 15,685/mt in the morning session, but later dropped to near RMB 16,000/mt at noon due to weak Shanghai Composite Index. In the afternoon, SHFE zinc dipped to RMB 15,520/mt due to falling LME zinc prices, despite improving Shanghai Composite Index. Finally, SHFE three-month zinc contract closed at RMB 15,535/mt, down RMB 40/mt.