SMM Brief on SHFE Zinc Futures (2013-6-18)-Shanghai Metals Market

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SMM Brief on SHFE Zinc Futures (2013-6-18)

Price Review & Forecast 05:12:52PM Jun 18, 2013 Source:SMM

SHANGHAI, Jun. 18 (SMM) – SHFE 1309 zinc contract prices opened RMB 10/mt lower at RMB 14,565/mt as LME zinc prices overnight dropped after Asian trading. SHFE copper and aluminum prices plunged by 1.33% and 1.26% respectively, and both SHFE and LME zinc prices soared before falling, distressing market sentiment, and causing longs to close positions. In this context, SHFE zinc prices found support at RMB 14,500/mt, and finally closed at RMB 14,515/mt, down RMB 60/mt or 0.41%.

Trading volumes of SHFE 1309 zinc contracts increased by 2,006 lots, to 26,264 lots, and positions decreased by 1,324 lots to 119,174 lots. Trading volumes of SHFE 1310 zinc contracts increased by 11,682 lots, to 73,100 lots, and total positions decreased by 2,774 lots to 305,452 lots.
 

SMM Brief on SHFE Zinc Futures (2013-6-18)

Price Review & Forecast 05:12:52PM Jun 18, 2013 Source:SMM

SHANGHAI, Jun. 18 (SMM) – SHFE 1309 zinc contract prices opened RMB 10/mt lower at RMB 14,565/mt as LME zinc prices overnight dropped after Asian trading. SHFE copper and aluminum prices plunged by 1.33% and 1.26% respectively, and both SHFE and LME zinc prices soared before falling, distressing market sentiment, and causing longs to close positions. In this context, SHFE zinc prices found support at RMB 14,500/mt, and finally closed at RMB 14,515/mt, down RMB 60/mt or 0.41%.

Trading volumes of SHFE 1309 zinc contracts increased by 2,006 lots, to 26,264 lots, and positions decreased by 1,324 lots to 119,174 lots. Trading volumes of SHFE 1310 zinc contracts increased by 11,682 lots, to 73,100 lots, and total positions decreased by 2,774 lots to 305,452 lots.