SMM Brief on SHFE Zinc Futures (2013-10-21)

SHANGHAI, Oct. 21 (SMM) – SHFE 1401 zinc contract prices opened flat at RMB 14,960/mt, and then edging up after briefly dipping to RMB 14,910/mt. Boosting by rising LME zinc prices and strengthening Shanghai Composite Index, SHFE zinc prices broke through RMB 15,000/mt, then hovering between RMB 15,050-15,080/mt. At the end of trading, the Shanghai Composite Index continued to rise and closed up 1.62%, pushing up SHFE zinc prices to close at a second daily high of RMB 15,115/mt, up RMB 155/mt or 1.04%. Trading volumes increased by 54,960 lots, to 92,234 lots, and total positions increased by 23,580 lots, to 152,598 lots.