SMM Brief on SHFE Zinc Futures (2013-7-16)

SHANGHAI, Jul. 16 (SMM) – LME zinc prices overnight closed the day with declines, and SHFE 1310 zinc contract prices opened slightly lower at RMB 14,680/mt. SHFE zinc prices surged before falling back to RMB 14,660/mt as a large number of shorts entered the market, but edged up during the second session due to rising LME zinc prices and A-shares, moving between RMB 14,670-14,690/mt. Due to news that related high-speed railway investment document was submitted and is expected to be approved soon, SHFE zinc prices were pushed up to RMB 14730/mt, and finally closed at RMB 14725/mt, up RMB 30/mt, up 0.2%. Trading volumes decreased by 5,484 lots, to 27,710 lots, and total positions decreased by 2,268 lots, to 148,788 lots.