SMM Brief on SHFE Zinc Futures (2014-7-2)

SHANGHAI, Jul. 2 (SMM) – SHFE 1409 zinc contract prices opened at RMB 15,940/mt on Tuesday evening, and inched down to RMB 15,900-15,920/mt as a large number of shorts entered the market, and closing at RMB 15,920/mt, down RMB 85/mt or 0.53%.

SHFE 1409 zinc contract prices opened at RMB 15,920/mt on Wednesday, and once fell to RMB 15,800/mt, then plunged near the end of morning trading as a large number of longs closed positions. But SHFE 1409 zinc contract price drop slowed since some bargain hunters entered the market, and closing at RMB 15,775/mt, down RMB 230/mt or 1.44%. Trading volumes increased by 33,756 lots, to 148,214 lots, and total positions of SHFE 1409 zinc contracts decreased by 24,738 lots to 161,286 lots. Total trading volumes decreased by 20,792 lots to 221,190 lots.