SMM Brief on SHFE Zinc Futures (2013-6-21)-Shanghai Metals Market

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SMM Brief on SHFE Zinc Futures (2013-6-21)

Price Review & Forecast 05:58:21PM Jun 21, 2013 Source:SMM

SHANGHAI, Jun. 21 (SMM) – SHFE 1310 zinc contract prices opened lower at RMB 14,315/mt, dragged down by LME zinc prices overnight. Due to strong selling pressure, SHFE zinc prices dipped to RMB 14,255/mt. But as shorts left the market after profit-taking and since some bargain hunters entered the market and due to rebounding LME zinc prices, SHFE zinc prices soared and touched RMB 14,470/mt, finally closing at RMB 14,440/mt, up RMB 30/mt or 0.21%. Trading volumes increased by 19,490 lots, to 88,146 lots, and total positions increased by 14,446 lots to 139,202 lots.
 

SMM Brief on SHFE Zinc Futures (2013-6-21)

Price Review & Forecast 05:58:21PM Jun 21, 2013 Source:SMM

SHANGHAI, Jun. 21 (SMM) – SHFE 1310 zinc contract prices opened lower at RMB 14,315/mt, dragged down by LME zinc prices overnight. Due to strong selling pressure, SHFE zinc prices dipped to RMB 14,255/mt. But as shorts left the market after profit-taking and since some bargain hunters entered the market and due to rebounding LME zinc prices, SHFE zinc prices soared and touched RMB 14,470/mt, finally closing at RMB 14,440/mt, up RMB 30/mt or 0.21%. Trading volumes increased by 19,490 lots, to 88,146 lots, and total positions increased by 14,446 lots to 139,202 lots.