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SMM Brief on SHFE Zinc Futures (2014-3-24)
Mar 24,2014 16:53CST
price review forecast
Source:SMM
SHFE 1406 zinc contract prices opened low at RMB 14,785/mt last Friday evening, touching RMB 14,810/mt before falling slightly.

SHANGHAI, Mar. 24 (SMM) – SHFE 1406 zinc contract prices opened low at RMB 14,785/mt last Friday evening, touching RMB 14,810/mt before falling slightly, then moving between RMB 14,735-14,780/mt, and finally closing at RMB 14,780/mt, up RMB 25/mt or 0.17%. Trading volumes decreased by 6,170 lots to 13,802 lots, and total positions increased by 546 lots to 72,728 lots.

SHFE 1406 zinc contract prices opened at RMB 14,765/mt on Monday, then leveled out between RMB 14,745-14,775/mt, and closing the day at RMB 14,770/mt, up RMB 15/mt or 0.1%. Trading volumes decreased by 6,076 lots, to 17,662 lots, and total positions increased by 4,524 lots, to 77,252 lots. SHFE 1406 zinc contract prices struggled between the 5 and 10-day moving average, and are expected to resist both increases and declines in the near future.
 

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