SHANGHAI, Aug. 19 (SMM) – SHFE 1410 zinc contract prices opened at RMB 16,380/mt last Friday evening, then touching RMB 16,465/mt with rising LME zinc prices, and closing at RMB 16,465/mt, up RMB 30/mt or 0.18%. Trading volumes decreased by 115,332 to 218,632 lots, and total positions grew by 1,782 to 239,676 lots.
SHFE 1410 zinc contract prices opened at RMB 16,540/mt on Tuesday, and dipped to RMB 16,470/mt, but rallying to the opening prices due to a strong long momentum, and closing at RMB 16,555/mt, up RMB 115/mt or 0.7%. Trading volumes increased by 37,176 lots, to 438,488 lots, and total positions decreased by 3,222 lots to 230,312 lots. LME zinc prices have closed with gains for three days in a row, which should boost SHFE zinc prices. But SHFE 1410 zinc contract prices are expected to struggle between the 30 and 40-day moving average as investors remain cautious.