SMM Brief on SHFE Zinc Futures (2013-1-7)-Shanghai Metals Market

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SMM Brief on SHFE Zinc Futures (2013-1-7)

Price Review & Forecast 05:00:27PM Jan 07, 2013 Source:SMM

SHANGHAI, Jan. 7 (SMM) – Today SHFE 1304 zinc contract became the most actively traded one, with prices opening lower at RMB 15,540/mt, and generally fluctuating around RMB 15,570/mt, and touching RMB 15,615/mt. But with resistance at the 5-day moving average, and since the Shanghai Composite fell along with LME zinc prices, SHFE three-month zinc contract prices reversed their increases. As long momentum mounted in the afternoon, SHFE three-month zinc contract prices fell again after briefly moving around RMB 15,530/mt, and finally closed at RMB 15,470/mt, down RMB 170/mt. Total position increased by 9,794 lots to 89,150 lots.

 

Key Words:  SHFE zinc prices  

SMM Brief on SHFE Zinc Futures (2013-1-7)

Price Review & Forecast 05:00:27PM Jan 07, 2013 Source:SMM

SHANGHAI, Jan. 7 (SMM) – Today SHFE 1304 zinc contract became the most actively traded one, with prices opening lower at RMB 15,540/mt, and generally fluctuating around RMB 15,570/mt, and touching RMB 15,615/mt. But with resistance at the 5-day moving average, and since the Shanghai Composite fell along with LME zinc prices, SHFE three-month zinc contract prices reversed their increases. As long momentum mounted in the afternoon, SHFE three-month zinc contract prices fell again after briefly moving around RMB 15,530/mt, and finally closed at RMB 15,470/mt, down RMB 170/mt. Total position increased by 9,794 lots to 89,150 lots.

 

Key Words:  SHFE zinc prices