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SMM Brief on SHFE Zinc Futures (2013-7-29)
Jul 29,2013 17:01CST
price review forecast
Source:SMM
SHFE 1311 zinc contracts became the most actively traded, with prices opening RMB 115/mt lower at RMB 14,520/mt.

SHANGHAI, Jul. 29 (SMM) – SHFE 1311 zinc contracts became the most actively traded, with prices opening RMB 115/mt lower at RMB 14,520/mt. LME zinc prices once soared to USD 1860/mt, which boosted SHEF zinc prices to touch RMB 14,575/mt.  But China’s A-shares plunged by 1.72%, with short momentum dominating the market, and pushing down SHFE zinc prices and finally closing at RMB 14,525/mt, down RMB 110/mt or 0.75%. Trading volumes increased by 2,040 lots, to 38,222 lots, and total positions increased by 10,268 lots, to 114,430 lots.
 

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