SHFE Zinc Prices Finish with Declines (Oct. 15, 2014)

SHANGHAI, Oct. 15 (SMM) – SHFE 1412 zinc contract prices opened at RMB 16,790/mt overnight, but slumped to RMB 16,605/mt, then rallied to RMB 16,870/mt, and closed at RMB 16,825/mt, up RMB 15/mt or 0.09%. Trading volumes increased 282,958 to 420,810 lots, and total positions increased 10,850 to 171,264 lots.

SHFE 1412 zinc contract prices opened at RMB 16,820/mt October 15, then fluctuated between RMB 16,770-16,820/mt in the morning. In the afternoon, SHFE 1412 zinc contract prices plunged to as low as 16,650/mt with LME zinc prices, and closed at RMB 16,705/mt, down RMB 105/mt or 0.62%. Trading volumes increased 349,630, to 621,678 lots, and total positions were up 4,316 lots to 164,730 lots. SHFE 1412 zinc contract prices are expected to meet resistance at RMB 17,000/mt.