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SMM Brief on SHFE Zinc Futures (2014-3-11)
Mar 11,2014 17:44CST
price review forecast
Source:SMM
SHFE 1405 zinc contract prices opened at RMB 14,750/mt on Monday evening, then rose as some bargain hunters entered the market and since a large number of shorts left the market after profit-taking.

SHANGHAI, Mar. 11 (SMM) – SHFE 1405 zinc contract prices opened at RMB 14,750/mt on Monday evening, then rose as some bargain hunters entered the market and since a large number of shorts left the market after profit-taking, touching RMB 14,875/mt, and finally closing at RMB 14,845/mt, down RMB 25/mt or 0.17%. Trading volumes decreased by 29,052 lots to 106,776 lots, and total positions decreased by 72 lots to 110,334 lots.

SHFE 1405 zinc contract prices opened low at RMB 14,845/mt on Tuesday, climbing to RMB 14,935/mt before leveling out, touching an intraday high of RMB 14,960/mt before the end of the morning trading. In the afternoon, SHFE 1405 zinc contract prices edged up as a growing number of shorts left the market after profit-taking, and closing at RMB 14,920/mt, up RMB 50/mt or 0.34%. Trading volumes decreased by 40,826 lots, to 52,410 lots, and total positions decreased by 8,992 lots, to 101,414 lots.
 

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