SMM Brief on SHFE Zinc Futures (2013-7-24)

SHANGHAI, Jul. 24 (SMM) – SHFE 1310 zinc contract prices opened slight higher at RMB 14,655/mt. HSBC's July manufacturing PMI for China deteriorated, triggering market concerns, which pulled down SHFE zinc prices to RMB 14,590/mt. The Ministry of Industry and Information Technology news spokesman expressed China plans to push policies helping enterprises impetus, easing market apprehension. China's A-shares edged up at noon, which boosted SHFE zinc prices to close at RMB 14,640/mt, up RMB 5/mt or 0.03%. Trading volumes of SHFE 1310 zinc contract decreased by 1,442 lots, to 17,730 lots, and total positions decreased by 3,168 lots, to 122,334 lots. Total trading volumes increased by 4,498 lots, to 58,658 lots, and total positions decreased by 3,264 lots, to 305,572 lots.