SMM Brief on SHFE Zinc Futures (2013-7-11)

SHANGHAI, Jul. 11 (SMM) – SHFE 1310 zinc contract prices opened RMB 195/mt higher at RMB 14,705/mt, fluctuating around RMB 14,700/mt in the morning. The Shanghai Composite Index continued to rise by 3.23%, boosting market sentiment. When combined with rising LME zinc prices, SHFE zinc prices strengthened in the afternoon, soaring to RMB 14,880/mt, pushing up by longs, but rolling back early gains later and finally closing at RMB 14,785/mt, up RMB 225/mt, or 1.55%. Trading volumes increased by 53,218 lots, to 1,034,444 lots, and total positions decreased by 4,446 lots, to 151,646 lots.