SMM Brief on SHFE Zinc Futures (2013-10-23)

Price Review & Forecast 04:36:59PM Oct 23, 2013 Source:SMM

SHANGHAI, Oct. 23 (SMM) – SHFE 1401 zinc contract prices opened at RMB 15,150/mt. During the first session, SHFE zinc prices touched RMB 15,160/mt, then fluctuated around RMB 15,125/mt. The Shanghai Composite Index soared initially in the morning but then dropped, down 1%, dragging down SHFE zinc prices. As a large number of investors left the market after profit-taking, SHFE zinc prices inched down and move between RMB 15,055-15,085/mt in the afternoon, and closed at RMB 15,040/mt, down RMB 35/mt or 0.23%. Trading volumes increased by 15,100 lots, to 62,016 lots, and total positions decreased by 15,902 lots, to 136,990 lots.
 

Key Words:  zinc prices  

SMM Brief on SHFE Zinc Futures (2013-10-23)

Price Review & Forecast 04:36:59PM Oct 23, 2013 Source:SMM

SHANGHAI, Oct. 23 (SMM) – SHFE 1401 zinc contract prices opened at RMB 15,150/mt. During the first session, SHFE zinc prices touched RMB 15,160/mt, then fluctuated around RMB 15,125/mt. The Shanghai Composite Index soared initially in the morning but then dropped, down 1%, dragging down SHFE zinc prices. As a large number of investors left the market after profit-taking, SHFE zinc prices inched down and move between RMB 15,055-15,085/mt in the afternoon, and closed at RMB 15,040/mt, down RMB 35/mt or 0.23%. Trading volumes increased by 15,100 lots, to 62,016 lots, and total positions decreased by 15,902 lots, to 136,990 lots.
 

Key Words:  zinc prices