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SMM Brief on SHFE Zinc Futures (2013-11-8)
Nov 8,2013 17:24CST
price review forecast
Source:SMM
SHFE 1401 zinc contract prices opened at RMB 14,930/mt, and found support at the 60-day moving average as LME zinc prices leveled out during Asian trading hours.

SHANGHAI, Nov. 8 (SMM) – SHFE 1401 zinc contract prices opened at RMB 14,930/mt, and found support at the 60-day moving average as LME zinc prices leveled out during Asian trading hours, then hovering between RMB 14,930-14,950/mt. Risk aversion permeated in the market at the week’s end and ahead of the release of US October non-farm employment data. Trading volumes increased by 3,242 lots, to 21,340 lots, and total positions decreased by 2,612 lots, to 106,932 lots.
 

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