SMM Brief on SHFE Zinc Futures (2013-6-3)-Shanghai Metals Market

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SMM Brief on SHFE Zinc Futures (2013-6-3)

Price Review & Forecast 05:39:10PM Jun 03, 2013 Source:SMM

SHANGHAI, Jun. 3 (SMM) – SHFE 1309 zinc contract prices opened RMB 115/mt, higher at RMB 14,890/mt. China’s official PMI in May fell short of expectations with 54.3, and HSBC announced China’s May PMI was revised downward from 49.6, to 49.2. SHFE zinc prices touched an intraday high of RMB 14,915/mt immediately following opening, but fell back to RMB 14,830-14,850/mt as longs left the market with profit-taking. But since shorts exited the market at the end of trading, SHFE zinc prices closed at RMB 14,880/mt, up RMB 105/mt or 0.71%. Trading volumes decreased by 13,144 lots, to 75,282 lots, and total positions decreased by 2,126 lots to 168,202 lots.
 

SMM Brief on SHFE Zinc Futures (2013-6-3)

Price Review & Forecast 05:39:10PM Jun 03, 2013 Source:SMM

SHANGHAI, Jun. 3 (SMM) – SHFE 1309 zinc contract prices opened RMB 115/mt, higher at RMB 14,890/mt. China’s official PMI in May fell short of expectations with 54.3, and HSBC announced China’s May PMI was revised downward from 49.6, to 49.2. SHFE zinc prices touched an intraday high of RMB 14,915/mt immediately following opening, but fell back to RMB 14,830-14,850/mt as longs left the market with profit-taking. But since shorts exited the market at the end of trading, SHFE zinc prices closed at RMB 14,880/mt, up RMB 105/mt or 0.71%. Trading volumes decreased by 13,144 lots, to 75,282 lots, and total positions decreased by 2,126 lots to 168,202 lots.