SHANGHAI, Mar. 10 (SMM) – SHFE 1405 zinc contract prices opened lower at RMB 14,990/mt last Friday evening, then dipping to an intraday low of RMB 14,810/mt, and finally closing at RMB 14,935/mt, down RMB 240/mt or 1.58%. Trading volumes increased by 92,804 lots to 106,776 lots, and total positions decreased by 7,650 lots to 105,694 lots.
SHFE 1405 zinc contract prices opened low at RMB 14,820/mt on Monday, then edged down due to China’s worse-than-expected export data and Chaori Solar Company’s bond default, dipping to RMB 14,700/mt, a record low in 1/2 year. SHFE copper prices dropped by the daily limit after opening, distressing market confidence, then rallied in the morning session. But as LME zinc prices edged down, SHFE 1405 zinc contract prices fell further, and closing at RMB 14,775/mt, down RMB 400/mt or 2.64%. Trading volumes increased by 62,188 lots, to 93,236 lots, and total positions decreased by 2,938 lots, to 110,406 lots.