SMM Brief on SHFE Zinc Futures (2013-1-9)

SHANGHAI, Jan. 9 (SMM) – LME zinc prices overnight plunged and then stopped falling at the end of trading, and rebounded slightly, but closed with declines. SHFE 1304 zinc contract prices opened at RMB 15,405/mt, falling immediately after touching RMB 15,470/mt in the morning trading. As long momentum mounted, SHFE 1304 zinc contract prices inched up to RMB 15,450/mt. As the Shanghai Composite entered downward track in the afternoon, SHFE 1304 zinc contract prices fell to RMB 15,420/mt, and then dipped to RMB 15,400/mt, and finally closed at RMB 15,415/mt, down RMB 50/mt. Total position increased by 1,600 lots to 91,416 lots.