SMM Brief on SHFE Zinc Futures (2013-10-30)-Shanghai Metals Market

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SMM Brief on SHFE Zinc Futures (2013-10-30)

Price Review & Forecast 05:22:47PM Oct 30, 2013 Source:SMM

SHANGHAI, Oct. 30 (SMM) – SHFE 1401 zinc contract prices opened higher at RMB 15,120/mt. With rising LME zinc prices and rebounding Shanghai Composite Index, SHFE zinc prices inched up, touching RMB 15,200/mt but then falling back to RMB 15,150-15,180/mt. As the Shanghai Composite Index extended gains in the afternoon, SHFE zinc prices hit an intraday high of RMB 15,225/mt. But the market remained cautious before the Fed announced the policy meeting result, pushing down SHFE zinc prices below RMB 15,200/mt, closing at RMB 15,180/mt, up RMB 80/mt or 0.53%. Trading volumes increased by 17,050 lots, to 70,756 lots, and total positions increased by 12,116 lots, to 142,670 lots.
 

Key Words:  zinc prices  

SMM Brief on SHFE Zinc Futures (2013-10-30)

Price Review & Forecast 05:22:47PM Oct 30, 2013 Source:SMM

SHANGHAI, Oct. 30 (SMM) – SHFE 1401 zinc contract prices opened higher at RMB 15,120/mt. With rising LME zinc prices and rebounding Shanghai Composite Index, SHFE zinc prices inched up, touching RMB 15,200/mt but then falling back to RMB 15,150-15,180/mt. As the Shanghai Composite Index extended gains in the afternoon, SHFE zinc prices hit an intraday high of RMB 15,225/mt. But the market remained cautious before the Fed announced the policy meeting result, pushing down SHFE zinc prices below RMB 15,200/mt, closing at RMB 15,180/mt, up RMB 80/mt or 0.53%. Trading volumes increased by 17,050 lots, to 70,756 lots, and total positions increased by 12,116 lots, to 142,670 lots.
 

Key Words:  zinc prices