SMM Brief on SHFE Zinc Futures (2013-10-15)

Price Review & Forecast 05:15:06PM Oct 15, 2013 Source:SMM

SHANGHAI, Oct. 15 (SMM) – SHFE 1401 zinc contract prices opened high at RMB 15,025/mt, but then hovering around RMB 14,960/mt as a large number of longs closed positions. LME zinc prices dropped sharply before the end of trading, dragging down SHFE zinc prices to hit a daily low of RMB 14,915/mt, and closed at RMB 14,945/mt, down RMB 10/mt or 0.07%. Trading volumes increased by 6,024 lots, to 49,856 lots, and total positions decreased by 3,602 lots, to 145,564 lots. Investor concerns eased due to productive negotiation on US debt ceiling issue, and SHFE zinc prices are expected to rally to RMB 15,000/mt Wednesday.
 

Key Words:  zinc prices  

SMM Brief on SHFE Zinc Futures (2013-10-15)

Price Review & Forecast 05:15:06PM Oct 15, 2013 Source:SMM

SHANGHAI, Oct. 15 (SMM) – SHFE 1401 zinc contract prices opened high at RMB 15,025/mt, but then hovering around RMB 14,960/mt as a large number of longs closed positions. LME zinc prices dropped sharply before the end of trading, dragging down SHFE zinc prices to hit a daily low of RMB 14,915/mt, and closed at RMB 14,945/mt, down RMB 10/mt or 0.07%. Trading volumes increased by 6,024 lots, to 49,856 lots, and total positions decreased by 3,602 lots, to 145,564 lots. Investor concerns eased due to productive negotiation on US debt ceiling issue, and SHFE zinc prices are expected to rally to RMB 15,000/mt Wednesday.
 

Key Words:  zinc prices