SHFE Zinc Prices Finish with Losses (Oct. 21, 2014)

SHANGHAI, Oct. 21 (SMM) – SHFE 1412 zinc contract prices opened lower at RMB 16,170/mt Monday evening, then fluctuated between RMB 16,160-16,265/mt, and closed at RMB 16,215/mt, down RMB 95/mt or 0.58%. Trading volumes decreased 59,088 to 220,340 lots, and total positions increased 8,622 to 157,268 lots.

SHFE 1412 zinc contract prices opened at RMB 16,210/mt October 21, then clawed back some losses due to rebounding LME zinc prices and better-than-expected Q3 growth in China. As LME base metals weakened in the afternoon, SHFE 1412 zinc contract prices fell to as low as RMB 16,140/mt, and closed at RMB 16,150/mt, down RMB 160/mt or 0.98%. Trading volumes decreased 29,530, to 382,186 lots, and total positions were down 6,716 lots to 141,930 lots. SHFE 1412 zinc contract prices are expected to test support from RMB 16,000/mt now that LME zinc prices hit a three-month low.