SMM Brief on SHFE Zinc Futures (2013-4-16)

SHANGHAI, Apr. 16 (SMM) – SHFE 1307 zinc contracts prices opened low at RMB 14,380/mt, dragged down by plunging global commodity and stocks markets. Due to a high SHFE/LME copper price ratio and investors selling goods, SHFE 1307 zinc contracts prices plummeted to a nine-and-a-half-month low of RMB 14,320/mt, but then inched up to RMB 14,645/mt owning to a rising Shanghai Composite Index and climbing LME zinc prices, with prices closing at RMB 14,580/mt, up RMB 75/mt or 0.52%. Trading volumes increased by 1,570 lots, to 116,000 lots, and total positions increased by 1,908 lots to 155,000 lots.