SMM Brief on SHFE Zinc Futures (2013-10-8)-Shanghai Metals Market

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SMM Brief on SHFE Zinc Futures (2013-10-8)

Price Review & Forecast 05:11:06PM Oct 08, 2013 Source:SMM

SHANGHAI, Oct. 8 (SMM) – Risk aversion grew as US government shut down during Chinese National Day holiday, pushing down LME zinc prices and dragging down SHFE zinc prices. SHFE 1312 zinc contracts prices opened at RMB 14,700/mt, and fluctuated around RMB 14,720/mt during the day, dipping to as low as RMB 14,680/mt, with transactions muted. Near the end of trading, LME zinc prices soared, and combined with strengthening Shanghai Composite Index, SHFE zinc prices gain back some losses and closed at RMB 14,745/mt, down RMB 70/mt or 0.47%. Trading volumes decreased by 10,170 lots, to 14,586 lots, and total positions increased by 968 lots, to 114,174 lots. Trading volumes of SHFE 1401 zinc contract increased by 1,750 lots, to 28,132 lots, and total positions increased by 6,076 lots, to 106,016 lots. SHFE 1401 zinc contracts are expected to become the most actively traded one on Wednesday.


 

Key Words:  zinc prices  

SMM Brief on SHFE Zinc Futures (2013-10-8)

Price Review & Forecast 05:11:06PM Oct 08, 2013 Source:SMM

SHANGHAI, Oct. 8 (SMM) – Risk aversion grew as US government shut down during Chinese National Day holiday, pushing down LME zinc prices and dragging down SHFE zinc prices. SHFE 1312 zinc contracts prices opened at RMB 14,700/mt, and fluctuated around RMB 14,720/mt during the day, dipping to as low as RMB 14,680/mt, with transactions muted. Near the end of trading, LME zinc prices soared, and combined with strengthening Shanghai Composite Index, SHFE zinc prices gain back some losses and closed at RMB 14,745/mt, down RMB 70/mt or 0.47%. Trading volumes decreased by 10,170 lots, to 14,586 lots, and total positions increased by 968 lots, to 114,174 lots. Trading volumes of SHFE 1401 zinc contract increased by 1,750 lots, to 28,132 lots, and total positions increased by 6,076 lots, to 106,016 lots. SHFE 1401 zinc contracts are expected to become the most actively traded one on Wednesday.


 

Key Words:  zinc prices