SMM Brief on SHFE Zinc Futures (2014-3-21)

SHANGHAI, Mar. 21 (SMM) – The most active SHFE 1406 zinc contract prices started lower at RMB 14,720/mt in Thursday’s night session, and fell back after reaching a high to the 5-day moving average. The metal closed down RMB 10/mt, or 0.07%, at RMB 14,725/mt. During the trading session, trading volumes fell sharply 31,802 lots to 19,972 lots, while positions gained 2,722 lots to 76,494 lots. SHFE 1406 zinc contract prices started at RMB 14,735/mt on Friday, and then advanced to an intraday high of RMB 14,815/mt, boosted by stabilizing LME zinc prices and a rally in the Shanghai Composite Index. The contract prices finished up RMB 50/mt, or 0.34% at RMB 14,785/mt on Friday. Trading volumes shed 294 lots to 23,738 lots, and positions shrunk 312 lots to 76,182 lots.