SMM Brief on SHFE Zinc Futures (2013-6-24)-Shanghai Metals Market

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SMM Brief on SHFE Zinc Futures (2013-6-24)

Price Review & Forecast 05:43:50PM Jun 24, 2013 Source:SMM

SHANGHAI, Jun. 24 (SMM) – SHFE 1310 zinc contract prices opened RMB 65/mt higher at RMB 14,435/mt, as LME zinc prices overnight closed the day up last Friday. The Shanghai Composite Index tumbled 5.3%, falling below 2,000, depressing market sentiment, and since short momentum mounted, SHFE zinc prices dipped to RMB 14,260/mt, finally closing at RMB 14,280/mt, down RMB 90/mt or 0.63%. Trading volumes decreased by 15,928 lots, to 72,218 lots, and total positions increased by 6,712 lots to 145,914 lots.

SHFE copper prices plunged by 2.42%, while SHFE zinc prices should fall to test RMB 14,100-14,000/mt.
 

SMM Brief on SHFE Zinc Futures (2013-6-24)

Price Review & Forecast 05:43:50PM Jun 24, 2013 Source:SMM

SHANGHAI, Jun. 24 (SMM) – SHFE 1310 zinc contract prices opened RMB 65/mt higher at RMB 14,435/mt, as LME zinc prices overnight closed the day up last Friday. The Shanghai Composite Index tumbled 5.3%, falling below 2,000, depressing market sentiment, and since short momentum mounted, SHFE zinc prices dipped to RMB 14,260/mt, finally closing at RMB 14,280/mt, down RMB 90/mt or 0.63%. Trading volumes decreased by 15,928 lots, to 72,218 lots, and total positions increased by 6,712 lots to 145,914 lots.

SHFE copper prices plunged by 2.42%, while SHFE zinc prices should fall to test RMB 14,100-14,000/mt.