SMM Brief on SHFE Zinc Futures (2013-3-29)

Mar 29, 2013 18:18

LME zinc prices overnight closed down USD 21.8/mt.

SHANGHAI, Mar. 29 (SMM) – LME zinc prices overnight closed down USD 21.8/mt. SHFE 1306 zinc contract prices opened slightly low at RMB 14,685/mt today. As large numbers of shorts closed positions, SHFE zinc prices were pushed up to RMB 14,835/mt, and then fluctuated between RMB 14,790-14,810/mt. SHFE market lacked directions from the LME market due to its closure. The Shanghai Composite index plunged, and pushed down SHFE zinc prices to RMB 14,770/mt, and with prices finally closing at RMB 14,755/mt, down RMB 85/mt or 0.57%. Trading volumes decreased by 10,458 lots, to 24,982 lots, and total positions decreased by 4,512 lots to 118,794 lots. Trading volumes of SHFE 1307 zinc contracts increased by 1,428 lots, to 42,100 lots, and total positions increased by 2,278 lots, to 96,986 lots.

LME zinc prices

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SMM Brief on SHFE Zinc Futures (2013-3-29)

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