SMM Brief on SHFE Zinc Futures (2013-7-18)

SHANGHAI, Jul. 18 (SMM) – SHFE 1310 zinc contract prices opened lower at RMB 14,555/mt, dragged down by LME zinc prices overnight, falling below RMB 14,600/mt. SHFE zinc prices struggled around RMB 14,540/mt in the morning session, as LME zinc prices inched down to USD 1,860/mt at noon, SHFE zinc prices fell to test the 20-day moving average in the afternoon, dipping to RMB 14,510/mt and finally closing at RMB 14,520/mt, down RMB 145/mt or 0.99%. Trading volumes decreased by 3,066 lots, to 36,368 lots, and total positions decreased by 3,708 lots, to 140,850 lots.