SMM Brief on SHFE Zinc Futures (2013-10-28)-Shanghai Metals Market

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SMM Brief on SHFE Zinc Futures (2013-10-28)

Price Review & Forecast 04:59:57PM Oct 28, 2013 Source:SMM

SHANGHAI, Oct. 28 (SMM) – SHFE 1401 zinc contract prices opened higher at RMB 15,030/mt as LME zinc prices overnight closed the day with gains, and then leveled out. But due to sluggish spot zinc market, SHFE zinc prices dropped later the day to RMB 15,035-15,055/mt. But since LME zinc prices jumped, SHFE zinc prices stabilized and closed at RMB 15070/mt, up RMB 120/mt. Trading volumes decreased by 9,242 lots, to 48,040 lots, and total positions increased by 2,900 lots, to 132,000 lots. The market remains cautious awaiting result from the Fed’s policy meeting.
 

Key Words:  zinc prices  

SMM Brief on SHFE Zinc Futures (2013-10-28)

Price Review & Forecast 04:59:57PM Oct 28, 2013 Source:SMM

SHANGHAI, Oct. 28 (SMM) – SHFE 1401 zinc contract prices opened higher at RMB 15,030/mt as LME zinc prices overnight closed the day with gains, and then leveled out. But due to sluggish spot zinc market, SHFE zinc prices dropped later the day to RMB 15,035-15,055/mt. But since LME zinc prices jumped, SHFE zinc prices stabilized and closed at RMB 15070/mt, up RMB 120/mt. Trading volumes decreased by 9,242 lots, to 48,040 lots, and total positions increased by 2,900 lots, to 132,000 lots. The market remains cautious awaiting result from the Fed’s policy meeting.
 

Key Words:  zinc prices