SMM Brief on SHFE Zinc Futures (2014-6-18)

SHANGHAI, Jun. 18 (SMM) – SHFE 1408 zinc contract prices opened at RMB 15,545/mt on Wednesday, and touched RMB 15,590/mt with SHFE copper prices, but meeting resistance at RMB 15,600/mt now that positive effects from deposit reserve ratio cut by the State Council has been absorbed and since domestic stocks had been plummeting for two consecutive days. SHFE 1408 zinc contract prices rolled back early gains and closed at RMB 15,500/mt, up RMB 80/mt or 0.52%. Trading volumes increased by 20,174 lots, to 55,380 lots, and total positions decreased by 3,152 lots, to 104,416 lots.