SMM Brief on SHFE Zinc Futures (2013-4-19)-Shanghai Metals Market

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SMM Brief on SHFE Zinc Futures (2013-4-19)

Price Review & Forecast 07:11:25PM Apr 19, 2013 Source:SMM

SHANGHAI, Apr. 19 (SMM) – As LME zinc prices overnight rallied after bottoming out, SHFE 1307 zinc contracts prices opened high at RMB 14,410/mt, and then fluctuated between RMB 14,370-14,390/mt. As bargain hunters entered the market, SHFE zinc prices were pushed up, but met resistance at RMB 14,500/mt. The Shanghai Composite Index soared and closed the day up 2.14%, pushing up SHFE zinc prices to touch RMB 14,600/mt, with prices closing at RMB 14,575/mt, up RMB 325/mt or 2.28%. Trading volumes decreased by 106,000 lots, to 110,000 lots, and total positions decreased by 13,148 lots to132,000 lots.
 

SMM Brief on SHFE Zinc Futures (2013-4-19)

Price Review & Forecast 07:11:25PM Apr 19, 2013 Source:SMM

SHANGHAI, Apr. 19 (SMM) – As LME zinc prices overnight rallied after bottoming out, SHFE 1307 zinc contracts prices opened high at RMB 14,410/mt, and then fluctuated between RMB 14,370-14,390/mt. As bargain hunters entered the market, SHFE zinc prices were pushed up, but met resistance at RMB 14,500/mt. The Shanghai Composite Index soared and closed the day up 2.14%, pushing up SHFE zinc prices to touch RMB 14,600/mt, with prices closing at RMB 14,575/mt, up RMB 325/mt or 2.28%. Trading volumes decreased by 106,000 lots, to 110,000 lots, and total positions decreased by 13,148 lots to132,000 lots.