SMM Brief on SHFE Zinc Futures (2013-1-22)-Shanghai Metals Market

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SMM Brief on SHFE Zinc Futures (2013-1-22)

Price Review & Forecast 05:32:59PM Jan 22, 2013 Source:SMM

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.
 

Price

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1# Zinc
Oct.21
18970.0
160.0
(0.85%)
0# Zinc
Oct.21
19040.0
160.0
(0.85%)
T/C for domestic zinc concentrate
Oct.01
6325.0
0.0
(0.00%)
T/C for imported zinc concentrate
Oct.01
280.0
0.0
(0.00%)
Zinc Alloy (Zamak3/ZX01)
Oct.18
19780.0
-10.0
(-0.05%)

SMM Brief on SHFE Zinc Futures (2013-1-22)

Price Review & Forecast 05:32:59PM Jan 22, 2013 Source:SMM

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.