SMM Brief on SHFE Zinc Futures (2013-4-1)-Shanghai Metals Market

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SMM Brief on SHFE Zinc Futures (2013-4-1)

Price Review & Forecast 07:21:06PM Apr 01, 2013 Source:SMM

SHANGHAI, Apr. 1 (SMM) – Major domestic cities released detailed regulations to the property market, weighing down zinc prices somewhat. SHFE 1306 zinc contract prices opened at RMB 14,705/mt today. As both official and HSBC’s PMI for China fell short of expectations, the Shanghai Composite Index closed down 0.1%.SHFE zinc prices dipped to RMB 14,600/mt after opening, and then fluctuated between RMB 14,640-14,660/mt during the day, and finally closed at RMB 14,610/mt, down RMB 160/mt or 1.08%. Trading volumes increased by 2,470 lots, to 27,450 lots, and total positions decreased by 3,572 lots to 115,222 lots. Trading volumes of SHFE 1307 zinc contracts increased by 22,340 lots, to 64,440 lots, and total positions increased by 10,720 lots, to 107,706 lots, the contract may become the most actively traded contract tomorrow.

 

 

 

Key Words:  zinc prices  

SMM Brief on SHFE Zinc Futures (2013-4-1)

Price Review & Forecast 07:21:06PM Apr 01, 2013 Source:SMM

SHANGHAI, Apr. 1 (SMM) – Major domestic cities released detailed regulations to the property market, weighing down zinc prices somewhat. SHFE 1306 zinc contract prices opened at RMB 14,705/mt today. As both official and HSBC’s PMI for China fell short of expectations, the Shanghai Composite Index closed down 0.1%.SHFE zinc prices dipped to RMB 14,600/mt after opening, and then fluctuated between RMB 14,640-14,660/mt during the day, and finally closed at RMB 14,610/mt, down RMB 160/mt or 1.08%. Trading volumes increased by 2,470 lots, to 27,450 lots, and total positions decreased by 3,572 lots to 115,222 lots. Trading volumes of SHFE 1307 zinc contracts increased by 22,340 lots, to 64,440 lots, and total positions increased by 10,720 lots, to 107,706 lots, the contract may become the most actively traded contract tomorrow.

 

 

 

Key Words:  zinc prices