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SMM Brief on SHFE Zinc Futures (2013-11-26)
Nov 26,2013 16:32CST
price review forecast
Source:SMM
SHFE 1402 zinc contract prices opened lower at RMB 14,860/mt, dragged down by LME zinc prices overnight, then leveling out between RMB 14,830-14,855/mt.

SHANGHAI, Nov. 26 (SMM) – SHFE 1402 zinc contract prices opened lower at RMB 14,860/mt, dragged down by LME zinc prices overnight, then leveling out between RMB 14,830-14,855/mt, with strong support from the 10-day moving average. Finally, SHFE zinc prices closed the day at RMB 14,845/mt, up RMB 15/mt. Trading volumes decreased by 916 lots, to 18,816 lots, and total positions decreased by 1,260 lots, to 114,000 lots.
 

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