SHANGHAI, Apr. 23 (SMM) – SHFE 1407 zinc contract prices opened at RMB 15,125/mt on Tuesday evening, and then rose to touch RMB 15,180/mt due to the strengthening LME zinc prices and increasing longs on the SHFE market, and closing at RMB 15,150/mt, up RMB 90/mt or 0.6%. Trading volumes increased by 9,010 lots to 10,394 lots, and total positions increased by 4,070 lots to 72,854 lots.
SHFE 1407 zinc contract prices opened at RMB 15,155/mt on Wednesday. HSBC’s initial April PMI for China was 48.3, in line with market expectations and topping the 48 in March, and snapping a six-month losing streak. As longs increased, SHFE 1407 zinc contract prices touched an intraday high of RMB 15,190/mt, then fluctuated at high levels in the afternoon, and closing at RMB 15,190/mt, up RMB 130/mt or 0.86%. Trading volumes increased by 14,030 lots, to 25,328 lots, and total positions increased by 6,702 lots, to 79,556 lots.