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SMM Brief on SHFE Zinc Futures (2013-2-6)
Feb 6,2013 18:30
CSTsmm insight
Source:SMM
The 1305 SHFE zinc contract price opened at RMB 16,050/mt on January 6 and touched a high of RMB 16,095/mt before falling to RMB 16,045/mt.
SHANGHAI, Feb. 6 (SMM) – The 1305 SHFE zinc contract price opened at RMB 16,050/mt on January 6 and touched a high of RMB 16,095/mt before falling to RMB 16,045/mt due to strong shorts. In the afternoon, SHFE zinc prices fell further to a low of RMB 15,910/mt with support at the 10-day moving average and finally closed at RMB 15,960/mt, down RMB 85/mt. The 5-day moving average became resistance. Positions were down 8,660 lots to 165,110 lots.
SHFE zinc prices
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