SMM Brief on SHFE Zinc Futures (2013-7-26)-Shanghai Metals Market

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SMM Brief on SHFE Zinc Futures (2013-7-26)

Price Review & Forecast 04:56:03PM Jul 26, 2013 Source:SMM

SHANGHAI, Jul. 26 (SMM) – SHFE 1310 zinc contract prices opened slight lower at RMB 14,650/mt, and then hovered around the 10-day moving average. LME zinc prices continued to weaken, which distressed market sentiment. As a large number of longs closed positions in the afternoon, SHFE zinc prices inched down, finding support at RMB 14,600/mt, and closing at RMB 14,605/mt, down RMB 60/mt or 0.41%. Trading volumes of SHFE 1310 zinc contract decreased by 7,968 lots, to 12,876 lots, and total positions decreased by 3,966 lots, to 115,566 lots. Total trading volumes of SHFE 1311 zinc contract decreased by 3,364 lots, to 36,182 lots, and total positions increased by 786 lots, to 104,162 lots. SHFE 1311 zinc contract became more actively traded.

 

SMM Brief on SHFE Zinc Futures (2013-7-26)

Price Review & Forecast 04:56:03PM Jul 26, 2013 Source:SMM

SHANGHAI, Jul. 26 (SMM) – SHFE 1310 zinc contract prices opened slight lower at RMB 14,650/mt, and then hovered around the 10-day moving average. LME zinc prices continued to weaken, which distressed market sentiment. As a large number of longs closed positions in the afternoon, SHFE zinc prices inched down, finding support at RMB 14,600/mt, and closing at RMB 14,605/mt, down RMB 60/mt or 0.41%. Trading volumes of SHFE 1310 zinc contract decreased by 7,968 lots, to 12,876 lots, and total positions decreased by 3,966 lots, to 115,566 lots. Total trading volumes of SHFE 1311 zinc contract decreased by 3,364 lots, to 36,182 lots, and total positions increased by 786 lots, to 104,162 lots. SHFE 1311 zinc contract became more actively traded.