SMM Brief on SHFE Zinc Futures (2013-7-9)

SHANGHAI, Jul. 9 (SMM) – SHFE 1310 zinc contract prices opened RMB 65/mt higher at RMB 14,500/mt, and moved higher after opening. China’s June CPI rose 2.7% YoY, while PPI fell by 2.7%, in line with market expectations. SHFE zinc prices generally fluctuated between RMB 14,515-14,535/mt, and inched up to RMB 14,535-14,555/mt, boosted by rising LME zinc prices and A-shares, and finally closing at RMB 14,530/mt, up RMB 95/mt, or 0.66%. Trading volumes increased by 8,772 lots, to 56,358 lots, and total positions decreased by 4,646 lots, to 155,806 lots.