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SMM Brief on SHFE Zinc Futures (2014-6-16)
Jun 16,2014 17:25CST
price review forecast
Source:SMM
SHFE 1408 zinc contract prices opened at RMB 15,360/mt last Friday evening, then touched RMB 15,445/mt before falling back to RMB 15,355-15,400/mt, and closing at RMB 15,395/mt。

SHANGHAI, Jun. 16 (SMM) – SHFE 1408 zinc contract prices opened at RMB 15,360/mt last Friday evening, then touched RMB 15,445/mt before falling back to RMB 15,355-15,400/mt, and closing at RMB 15,395/mt, flat with settling prices on the previous trading day. Trading volumes decreased by 70,000 lots, and total positions increased by 2,716 lots to 114,000 lots.

SHFE 1408 zinc contract prices inched down as a large number of longs left the market but found support from the 10-day moving average, fluctuating between RMB 15,335-15,365/mt, and closing at RMB 15,360/mt, down RMB 35/mt or 0.23%. Trading volumes decreased by nearly 20,000 lots, to 32,000 lots, and total positions decreased by 9,080 lots, to 104,962 lots.
 

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