SMM Brief on SHFE Zinc Futures (2013-7-1)

SHANGHAI, Jul. 1 (SMM) – SHFE 1310 zinc contract prices opened slightly higher at RMB 14,420/mt, and soared to test RMB 14,500/mt as buyers rushed to the market. The Shanghai Composite Index bottomed before rising in the afternoon, closing the day up 0.81%. Drove up by LME zinc prices, SHFE 1310 zinc contract prices broke through RMB 14,500/mt in the afternoon, inching up to RMB 14,530/mt, touching RMB 14,545/mt, and finally closing at RMB 14,540/mt, up RMB 135/mt or 0.94%. Trading volumes increased by 5,818 lots, to 54,638 lots, and total positions decreased by 572 lots to 160,008 lots.