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SMM Brief on SHFE Zinc Futures (2014-7-16)
Jul 16,2014 17:27CST
price review forecast
Source:SMM
SHFE 1409 zinc contract prices opened at RMB 16,570/mt on Tuesday evening, then touched RMB 16,670/mt, a record high since February 23, 2012. At the end of trading.

SHANGHAI, Jul. 16 (SMM) – SHFE 1409 zinc contract prices opened at RMB 16,570/mt on Tuesday evening, then touched RMB 16,670/mt, a record high since February 23, 2012. At the end of trading, SHFE 1409 zinc contract prices fell slightly as some longs left the market after profit-taking, and closing at RMB 16,575/mt, up RMB 105/mt or 0.64%. Trading volumes increased by 140,726 lots, to 262,282 lots, and total positions decreased by 1,994 lots to 268,968 lots.

SHFE 1409 zinc contract prices hovered between RMB 16,570-16,670/mt on Wednesday, touching a record high of RMB 16,790/mt since February 23, 2012, pointing toward RMB 16,800/mt. But as a large number of longs left the market, SHFE 1409 zinc contract prices fell back to RMB 16,600/mt, and closing at RMB 16,610/mt, up RMB 140/mt or 0.85%. Trading volumes increased by 254,000 lots, to 698,000 lots, and total positions of SHFE 1409 zinc contracts decreased by 11,850 lots to 259,000 lots. Trading volumes of SHFE zinc contracts were 940,000 lots, to 698,000 lots, and total positions increased by 12,500 lots to 500,000 lots.
 

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