SMM Brief on SHFE Zinc Futures (2013-3-11)

SHANGHAI, Mar. 11 (SMM) – SHFE 1306 zinc contract prices opened lower at RMB 15,265/mt, and then struggled around RMB 15,260/mt, and dipped to an intraday low of RMB 15,180/mt as the Shanghai Composite moved lower and since long momentum increased. As LME zinc prices rallied, SHFE three-month zinc contract prices edged up to RMB 15,260/mt, but fell slowly in the afternoon, and finally closed at RMB 15,220/mt, down RMB 110/mt, or 0.72%. Trading volumes increased by 16,998 lots, to 84,466 lots, and total position increased by 10,712 lots to 126,892 lots.