SMM Brief on SHFE Zinc Futures (2014-4-18)

SHANGHAI, Apr. 18 (SMM) – SHFE 1407 zinc contract prices opened at RMB 15,110/mt, and inched down due to falling LME zinc prices, and closing at RMB 15,075/mt, down RMB 15/mt or 0.1%. Trading volumes increased by 4,758 lots to 11,374 lots, and total positions increased by 2,432 lots to 61,550 lots.

With the lack of directions from the LME market, SHFE 1407 zinc contract prices dropped after opening as a large number of longs left the market, dipping to RMB 15,020/mt on Friday. SHFE 1407 zinc contract prices clawed back most losses, and climbed to RMB 15,065/mt, and closing at RMB 15,075/mt, down RMB 15/mt or 0.1%. Trading volumes decreased by 4,170 lots, to 18,126 lots, and total positions increased by 2,140 lots, to 63,690 lots.