SMM Brief on SHFE Zinc Futures (2013-3-4)

SHANGHAI, Mar. 4 (SMM) – SHFE 1305 zinc contract prices opened lower at RMB 15,350/mt, and then generally moved between RMB 15,360-15,380/mt. Due to China’s additional regulation measures to the real estate sector, property stocks fell by daily limits today, dragging down the Shanghai Composite to slump by 3.65%, rolling back early week gains, and which is the largest daily declines since September 2011. SHFE three-month zinc contract prices inched down to RMB 15,300/mt near the end of the morning trading, and closed at RMB 15,295/mt, down RMB 185/mt, or 1.2%. Trading volumes of SHFE 1305 zinc contract increased by 370 lots, to 45,812 lots, and total position decreased by 6,966 lots to 97,248 lots.