SMM Brief on SHFE Zinc Futures (2013-6-4)-Shanghai Metals Market

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SMM Brief on SHFE Zinc Futures (2013-6-4)

Price Review & Forecast 06:15:44PM Jun 04, 2013 Source:SMM

SHANGHAI, Jun. 4 (SMM) – SHFE 1309 zinc contract prices opened higher at RMB 14,920/mt, boosted by LME zinc prices overnight. The Shanghai Composite Index opened low but moved lower, plummeting by 1.17%, affecting the zinc market. Selling pressure also pushed SHFE zinc prices down below the 60-day moving average, closing at RMB 14,790/mt, down RMB 65/mt or 0.44%. Trading volumes of SHFE 1309 zinc contracts increased by 16,984 lots, to 92,266 lots, and positions decreased by 23,670 lots to 144,532 lots. Trading volumes increased by 33,372 lots, to 159,398 lots, and positions decreased by 37,690 lots to 334,260 lots. Zinc prices lacked upward impetus and encounter resistance at RMB 15,000/mt, with investors cautious.
 

Price

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Aluminum Ingot
Oct.18
14000.0
40.0
(0.29%)
Aluminum Ingot - Fo Shan
Oct.18
13960.0
30.0
(0.22%)
Aluminum Ingot - Wu Xi
Oct.18
14000.0
20.0
(0.14%)
Aluminum Ingot - Hang Zhou
Oct.18
14040.0
55.0
(0.39%)
Aluminum Ingot - Chong Qing
Oct.18
13980.0
60.0
(0.43%)

SMM Brief on SHFE Zinc Futures (2013-6-4)

Price Review & Forecast 06:15:44PM Jun 04, 2013 Source:SMM

SHANGHAI, Jun. 4 (SMM) – SHFE 1309 zinc contract prices opened higher at RMB 14,920/mt, boosted by LME zinc prices overnight. The Shanghai Composite Index opened low but moved lower, plummeting by 1.17%, affecting the zinc market. Selling pressure also pushed SHFE zinc prices down below the 60-day moving average, closing at RMB 14,790/mt, down RMB 65/mt or 0.44%. Trading volumes of SHFE 1309 zinc contracts increased by 16,984 lots, to 92,266 lots, and positions decreased by 23,670 lots to 144,532 lots. Trading volumes increased by 33,372 lots, to 159,398 lots, and positions decreased by 37,690 lots to 334,260 lots. Zinc prices lacked upward impetus and encounter resistance at RMB 15,000/mt, with investors cautious.