Metals News
SMM Brief on SHFE Zinc Futures (2013-4-2)
smm insight
04:29PM
Apr 2,2013
Source:SMM

SHANGHAI, Apr. 2 (SMM) – SHFE 1306 zinc contract opened at RMB 14,650/mt on Tuesday. After its opening, the contract rose to RMB 14,695/mt, buoyed by rising LME zinc prices and Shanghai Composite Index. Later, the Shanghai Composite Index dived to a new low for the year at 2,220.44 points as investors are watching from the sidelines ahead of the Chinese Qingming holiday, closing down 0.3%. Stagnant LME zinc prices kept investors wary of buying SHFE zinc contracts at lows, keeping the most active SHFE zinc contract within RMB 14,650-14,680/mt during the day. Finally, SHFE 1306 zinc contract closed RMB 45/mt or 0.31% higher at RMB 14,685/mt. As for SHFE 1306 zinc contracts, trading volumes decreased 6,296 lots to 21,156 lots, while positions also shrank 5,004 lots to 110,218 lots. As regards SHFE 1307 zinc contracts, trading volumes contracted 11,470 lots to 52,970 lots, while positions increased 2,376 lots to 110,082 lots. 
 

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