SMM Brief on SHFE Zinc Futures (2013-6-19)

SHANGHAI, Jun. 19 (SMM) – SHFE 1309 zinc contract prices opened at RMB 14,540/mt. The market remained cautious before the US Federal Reserve’s policy meeting is held. HSBC will release China’s June manufacturing PMI this Thursday, which is pessimistic given the sluggish manufacturing in China and regulations to the property market. Beside, the Shanghai Composite Index opened low and moved lower, dipping to 2115.79, a record low since mid-December last year, depressing market sentiment. In this context, SHFE zinc prices fluctuated between RMB 14,510-14,525/mt, and rallied in the afternoon, finally closing at RMB 14,530/mt, down RMB 10/mt or 0.07%.

Trading volumes of SHFE 1309 zinc contracts decreased by 10,160 lots, to 16,104 lots, and positions decreased by 2,506 lots to 116,608 lots. Trading volumes decreased by 16,916 lots, to 56,184 lots, and total positions increased by 4,166 lots to 309,618 lots.