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

Hot Keywords

  • Inventory data
  • NPI
  • Zinc
  • Macroeconomics
  • Production data
  • Market commentary
  • Morning comments
  • Aluminium
  • Copper
  • Stainless steel
  • Mengtai Group
  • hydrogen stations
  • Nickel
  • Futures movement
  • Iron ore

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

Price Review & Forecast 06:09:25PM Apr 03, 2013 Source:SMM

SHANGHAI, Apr. 3 (SMM) – SHFE 1307 zinc contracts became the most actively traded contracts today, with prices opening at RMB 14,650/mt today since LME zinc prices overnight closed the day down, and generally fluctuated between RMB 14,610-14,660/mt. As the Shanghai Composite Index pulled down near the end of the trading, SHFE zinc prices dipped to an 8-month low of RMB 14,550/mt, and finally closed at RMB 14,555/mt, down RMB 175/mt or 1.19%. The SHFE/LME zinc price ratio expanded to 7.9, and created an opportunity for imports, so investors bought overseas goods and sold them at home. Trading volumes increased by 36,518 lots, to 89,488 lots, and total positions increased by 23,308 lots to 133,390 lots.

 

Price

more
#1 Refined Cu
Oct.16
46915.0
-70.0
(-0.15%)
Standard-Grade Copper
Oct.16
46905.0
-75.0
(-0.16%)
High-Grade Copper
Oct.16
46925.0
-65.0
(-0.14%)
Guixi copper
Oct.16
46930.0
-65.0
(-0.14%)
Low-quality copper
Oct.16
46875.0
-60.0
(-0.13%)

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

Price Review & Forecast 06:09:25PM Apr 03, 2013 Source:SMM

SHANGHAI, Apr. 3 (SMM) – SHFE 1307 zinc contracts became the most actively traded contracts today, with prices opening at RMB 14,650/mt today since LME zinc prices overnight closed the day down, and generally fluctuated between RMB 14,610-14,660/mt. As the Shanghai Composite Index pulled down near the end of the trading, SHFE zinc prices dipped to an 8-month low of RMB 14,550/mt, and finally closed at RMB 14,555/mt, down RMB 175/mt or 1.19%. The SHFE/LME zinc price ratio expanded to 7.9, and created an opportunity for imports, so investors bought overseas goods and sold them at home. Trading volumes increased by 36,518 lots, to 89,488 lots, and total positions increased by 23,308 lots to 133,390 lots.