SMM Brief on SHFE Zinc Futures (2013-2-1)

SHANGHAI, Feb. 1 (SMM) – LME zinc prices overnight closed with declines. SHFE 1305 zinc contract prices opened flat at RMB 16,080/mt, and then fluctuated around RMB 16,050/mt. Due to mixed major economic data from China, SHFE 1305 zinc contract prices dipped to an intraday low of RMB 15,940/mt. As the Shanghai Composite soared to 2,421.15, SHFE 1305 zinc contract prices were boosted and struggled at RMB 16,060/mt in the afternoon, and closed at RMB 16,045/mt, down RMB 35/mt, or down 0.22%. Trading volumes of SHFE 1305 zinc contract decreased by 38,480 lots, to 153,840 lots, and total position increased by 7,674 lots to 177,604 lots.