SMM Brief on SHFE Zinc Futures (2013-10-24)-Shanghai Metals Market

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SMM Brief on SHFE Zinc Futures (2013-10-24)

Price Review & Forecast 05:29:14PM Oct 24, 2013 Source:SMM

SHANGHAI, Oct. 24 (SMM) – SHFE 1401 zinc contract prices opened at RMB 15,000/mt as LME zinc prices overnight plunged by 1.86%, and then dipped to RMB 14,930/mt. HSBC’s October PMI for China was better than the flash data and September’s, but as the market had absorbed the news, SHFE zinc prices lacked ability to rise, hovering around the RMB 15,000/mt, and closing at RMB 15,015/mt, down RMB 25/mt. Trading volumes decreased by 21,892 lots, to 40,124 lots, and total positions decreased by 5,336 lots, to 132,000 lots.
 

Key Words:  zinc prices  

SMM Brief on SHFE Zinc Futures (2013-10-24)

Price Review & Forecast 05:29:14PM Oct 24, 2013 Source:SMM

SHANGHAI, Oct. 24 (SMM) – SHFE 1401 zinc contract prices opened at RMB 15,000/mt as LME zinc prices overnight plunged by 1.86%, and then dipped to RMB 14,930/mt. HSBC’s October PMI for China was better than the flash data and September’s, but as the market had absorbed the news, SHFE zinc prices lacked ability to rise, hovering around the RMB 15,000/mt, and closing at RMB 15,015/mt, down RMB 25/mt. Trading volumes decreased by 21,892 lots, to 40,124 lots, and total positions decreased by 5,336 lots, to 132,000 lots.
 

Key Words:  zinc prices