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SMM Brief on SHFE Zinc Futures (2013-1-22)
Jan 22, 2013 17:32Source:SMM
SHFE 1304 zinc contract prices opened flat at RMB 15,385/mt, and soared immediately following opening.
SHANGHAI, Jan. 22 (SMM) – SHFE 1304 zinc contract prices opened flat at RMB 15,385/mt, and soared immediately following opening, but met resistance at the 20-day moving average, struggling around RMB 15,425/mt. Bank of Japan agreed to further loosen monetary policies, pulling up LME zinc prices. As a result,
SHFE 1304 zinc contract prices rebounded in the afternoon and touched RMB 15,500/mt, and closed at RMB 15,485/mt, up RMB 100/mt, or 0.65%. Trading volumes increased by 9,438 lots, to 57,412 lots.
SHFE 1304 zinc contract prices
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