SMM Brief on SHFE Zinc Futures (2013-4-11)-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • Air pollution
  • Zinc
  • hydrogenation stations
  • Production data
  • Futures movement
  • Aluminium
  • nickel laterite
  • Nickel
  • Market commentary
  • Macroeconomics
  • In the United States
  • Copper
  • Nickel ore
  • Spot copper

SMM Brief on SHFE Zinc Futures (2013-4-11)

Price Review & Forecast 07:37:05PM Apr 11, 2013 Source:SMM

SHANGHAI, Apr. 11 (SMM) – LME zinc prices overnight closed the day with declines. SHFE 1307 zinc contracts prices were dragged down and opened low at RMB 14,830/mt. The spokesman with General Administration of Customs stated the NDRC approved investment projects totaling RMB 7 trillion in Q4 2012, boosting the market. Large numbers of longs surged into the market, and the Shanghai Composite Index opened high. As a result, SHFE zinc prices climbed to RMB 14,890/mt, and generally moved between RMB 14,850-14,870/mt in the afternoon. But since the Shanghai Composite Index fell after opening, and as LME zinc prices also slid, SHFE zinc prices weakened in the afternoon, and finally closed at RMB 14,790/mt, down RMB 100/mt or 0.67%. Trading volumes increased by 1,832 lots, to 52,898 lots, and total positions increased by 3,990 lots to 139,454 lots.
 

Key Words:  LME zinc prices 

SMM Brief on SHFE Zinc Futures (2013-4-11)

Price Review & Forecast 07:37:05PM Apr 11, 2013 Source:SMM

SHANGHAI, Apr. 11 (SMM) – LME zinc prices overnight closed the day with declines. SHFE 1307 zinc contracts prices were dragged down and opened low at RMB 14,830/mt. The spokesman with General Administration of Customs stated the NDRC approved investment projects totaling RMB 7 trillion in Q4 2012, boosting the market. Large numbers of longs surged into the market, and the Shanghai Composite Index opened high. As a result, SHFE zinc prices climbed to RMB 14,890/mt, and generally moved between RMB 14,850-14,870/mt in the afternoon. But since the Shanghai Composite Index fell after opening, and as LME zinc prices also slid, SHFE zinc prices weakened in the afternoon, and finally closed at RMB 14,790/mt, down RMB 100/mt or 0.67%. Trading volumes increased by 1,832 lots, to 52,898 lots, and total positions increased by 3,990 lots to 139,454 lots.
 

Key Words:  LME zinc prices