SMM Brief on SHFE Zinc Futures (2014-6-23)

SHANGHAI, Jun. 23 (SMM) – SHFE 1409 zinc contract prices opened at RMB 15,765/mt last Friday evening, then hovered around RMB 15,760/mt, dipping to RMB 15,710/mt and closing at RMB 15,770/mt, up RMB 40/mt or 0.25%.

SHFE 1409 zinc contract prices opened at RMB 15,770/mt. HSBC’s June PMI for China rose above 50, reflecting a series of easing monetary policies implemented by the State Council begins to show results, and boosting SHFE 1409 zinc contract prices to rise after dipping to RMB 15,705/mt in the morning, and breaking through RMB 15,800/mt. But as a large number of longs left the market at the end of trading, SHFE 1409 zinc contract prices closed at RMB 15,765/mt, up RMB 35/mt or 0.22%. Trading volumes decreased by 16,690 lots, to 53,080 lots, and total positions increased by 3,824 lots, to 126,160 lots.