SMM Brief on SHFE Zinc Futures (2013-4-15)-Shanghai Metals Market

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SMM Brief on SHFE Zinc Futures (2013-4-15)

Price Review & Forecast 05:52:34PM Apr 15, 2013 Source:SMM

SHANGHAI, Apr. 15 (SMM) – LME zinc prices plunged last Friday as US major economic data fell short of expectations. SHFE 1307 zinc contracts prices opened low at RMB 14,570/mt, and then moved around RMB 14,600/mt. China’s GDP growth and March industry value added were both lower than forecasts. Disappointing data from China and US triggered concerns that global economic growth will slow, and caused commodity and global stocks markets to plummet. In this context, LME zinc prices plunged and dipped to a record low last seen in July 2012, and closing at RMB 14,455/mt, down RMB 350/mt or 2.36%. Trading volumes increased by 68,790 lots, to 114,576 lots, and total positions increased by 10,792 lots to 153,590 lots.
 

Key Words:  LME zinc prices  

SMM Brief on SHFE Zinc Futures (2013-4-15)

Price Review & Forecast 05:52:34PM Apr 15, 2013 Source:SMM

SHANGHAI, Apr. 15 (SMM) – LME zinc prices plunged last Friday as US major economic data fell short of expectations. SHFE 1307 zinc contracts prices opened low at RMB 14,570/mt, and then moved around RMB 14,600/mt. China’s GDP growth and March industry value added were both lower than forecasts. Disappointing data from China and US triggered concerns that global economic growth will slow, and caused commodity and global stocks markets to plummet. In this context, LME zinc prices plunged and dipped to a record low last seen in July 2012, and closing at RMB 14,455/mt, down RMB 350/mt or 2.36%. Trading volumes increased by 68,790 lots, to 114,576 lots, and total positions increased by 10,792 lots to 153,590 lots.
 

Key Words:  LME zinc prices