SMM Brief on SHFE Zinc Futures (2013-4-9)

SHANGHAI, Apr. 9 (SMM) – LME zinc prices overnight closed the day with gains. LME zinc prices extended their increases today, and the Shanghai Composite Index opened high and moved higher, gaining back previous losses, and closing the day up 0.62%, boosting SHFE zinc prices. SHFE 1307 zinc contracts prices opened at RMB 14,775/mt today, and then moved between RMB 14,795-14,810/mt. SHFE zinc prices surged again in the afternoon, and broke through the 10-day moving average, inching up to RMB 14,855-14,870/mt, and finally closing at RMB 14,890/mt, up RMB 235/mt or 1.6%. Trading volumes increased by 12,332 lots, to 76,790 lots, and total positions increased by 7,244 lots to 137,740 lots.