SMM Brief on SHFE Zinc Futures (2013-4-23)-Shanghai Metals Market

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SMM Brief on SHFE Zinc Futures (2013-4-23)

Price Review & Forecast 05:15:09PM Apr 23, 2013 Source:SMM

SHANGHAI, Apr. 23 (SMM) – SHFE 1307 zinc contracts prices opened at RMB 14,540/mt, touching RMB 14,615/mt following LME zinc prices, but then falling back to RMB 145,20/mt. HSBC's April PMI for China was only 50.5, showing the path to recovery of China's manufacturing is still marked with twist and turns. With growing investor concerns, the Shanghai Composite Index plummeted and closed with declines of 2.57%, dragging down SHFE 1307 zinc contract prices to USD 14,415/mt, but gaining back some previous losses, and finally closing at RMB 14,515/mt, down RMB 30/mt. Total positions decreased by 2,564 lots to 125,410 lots.
 

SMM Brief on SHFE Zinc Futures (2013-4-23)

Price Review & Forecast 05:15:09PM Apr 23, 2013 Source:SMM

SHANGHAI, Apr. 23 (SMM) – SHFE 1307 zinc contracts prices opened at RMB 14,540/mt, touching RMB 14,615/mt following LME zinc prices, but then falling back to RMB 145,20/mt. HSBC's April PMI for China was only 50.5, showing the path to recovery of China's manufacturing is still marked with twist and turns. With growing investor concerns, the Shanghai Composite Index plummeted and closed with declines of 2.57%, dragging down SHFE 1307 zinc contract prices to USD 14,415/mt, but gaining back some previous losses, and finally closing at RMB 14,515/mt, down RMB 30/mt. Total positions decreased by 2,564 lots to 125,410 lots.