SMM Brief on SHFE Zinc Futures (2013-1-4)-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • Zinc
  • Production data
  • Market commentary
  • Macroeconomics
  • Morning comments
  • Futures movement
  • NPI
  • Copper
  • Aluminium
  • Nickel
  • Nickel ore
  • In the United States
  • trade negotiations
  • nickel laterite

SMM Brief on SHFE Zinc Futures (2013-1-4)

Price Review & Forecast 05:56:12PM Jan 04, 2013 Source:SMM

SHANGHAI, Jan. 4 (SMM) – LME zinc prices overnight fell sharply after initially surging. SHFE three-month zinc contract prices started the day higher at RMB 15,540/mt, falling after touching RMB 15,620/mt in the morning trading, and then moving below the moving averages. The Shanghai Composite continued to rebound in the afternoon, and LME zinc prices pared some previous losses, but due to strong short momentum, SHFE three-month zinc contract prices lacked upward momentum, fluctuating around RMB 15,520/mt, and dipping to RMB 15,490/mt. Finally, SHFE three-month zinc contract prices finally closed at RMB 15,540/mt, up RMB 30/mt. Total position decreased by 10,556 lots to 81,138 lots.
 

SMM Brief on SHFE Zinc Futures (2013-1-4)

Price Review & Forecast 05:56:12PM Jan 04, 2013 Source:SMM

SHANGHAI, Jan. 4 (SMM) – LME zinc prices overnight fell sharply after initially surging. SHFE three-month zinc contract prices started the day higher at RMB 15,540/mt, falling after touching RMB 15,620/mt in the morning trading, and then moving below the moving averages. The Shanghai Composite continued to rebound in the afternoon, and LME zinc prices pared some previous losses, but due to strong short momentum, SHFE three-month zinc contract prices lacked upward momentum, fluctuating around RMB 15,520/mt, and dipping to RMB 15,490/mt. Finally, SHFE three-month zinc contract prices finally closed at RMB 15,540/mt, up RMB 30/mt. Total position decreased by 10,556 lots to 81,138 lots.