SHANGHAI, Sept. 23 (SMM) – The shift was made to SHFE 1412 zinc contracts overnight, with prices opening at RMB 15,980/mt, then touched as high as RMB 16,120/mt, and closing at RMB 16,100/mt, down RMB 70/mt or 0.43%. Trading volumes increased to 125,112 lots, and total positions increased to 167,308 lots.
SHFE 1412 zinc contract prices opened at RMB 16,100/mt on Tuesday. As HSBC’s September PMI for China topped market expectations, SHFE 1412 zinc contract prices stabilized, touching as high as RMB 16,230/mt, but fluctuated between RMB 16,120-16,160/mt in the afternoon due to market caution. SHFE 1412 zinc contract prices closed at RMB 16,125/mt, down RMB 45/mt or 0.28%. Trading volumes decreased 103,758, to 254,682 lots, and total positions increased by 8,712 lots to 162,090 lots. SHFE 1411 zinc contract prices should lacked impetus to rise, hovering around RMB 16,000/mt.