SMM Brief on SHFE Zinc Futures (2013-7-8)

SHANGHAI, Jul. 8 (SMM) – LME zinc closed lower last Friday, causing SHFE 1310 zinc contract to open lower at RMB 14,475/mt on Monday. After its opening, the most active SHFE zinc contract hit a high of RMB 14,480/mt before immediately falling back to RMB 14,410/mt. Later, SHFE zinc for October delivery moved within RMB 14,425-14,445/mt, and finally ended the day at RMB 14,425/mt, down RMB 70/mt or 0.48%. Trading volumes added 1,106 lots to 47,586 lots, and positions also increased 3,864 lots, to 160,452 lots. Further declines are expected in SHFE three-month zinc contract prices.