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SMM Brief on SHFE Zinc Futures (2013-11-25)
Nov 25, 2013 17:05Source:SMM
SHFE 1402 zinc contract prices opened higher at RMB 14,900/mt, as LME zinc prices rose by 1% last Friday.
SHANGHAI, Nov. 25 (SMM) – SHFE 1402 zinc contract prices opened higher at RMB 14,900/mt, as LME zinc prices rose by 1% last Friday, but then rolled back early gains, touching as high as RMB 14,920/mt, but with strong resistance at the 60-day moving average. Both LME zinc prices and the Shanghai Composite Index fell later the day, dragging down SHFE zinc prices to fall, closing the day at RMB 14,830/mt, up RMB 10/mt. Trading volumes increased by 1,920 lots, to 19,732 lots, and total positions decreased by 430 lots, to 115,000 lots.
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