SMM Brief on SHFE Zinc Futures (2014-3-18)

SHANGHAI, Mar. 18 (SMM) – SHFE 1405 zinc contract prices opened high at RMB 14,695/mt on Monday evening, touching RMB 14,730/mt before dropping, and finally closing at RMB 14,670/mt, down RMB 55/mt or 0.37. Trading volumes decreased by 6,604 lots to 5,110 lots, and total positions decreased by 396 lots to 78,226 lots.

SHFE 1406 zinc contract prices became the most actively traded contract on Tuesday, with prices opening at RMB 14,715/mt, then edged up to RMB 14,780/mt with rising SHFE copper prices. but as a large number of longs closed positions, and since LME zinc prices lacked ability to rebound in the afternoon, SHFE 1406 zinc contract prices leveled out between RMB 14,750-14,780/mt, and closing the day flat at RMB 14,760/mt. Trading volumes increased by 10,530 lots, to 30,644 lots, and total positions decreased by 1,810 lots, to 72,632 lots.