SHFE Zinc Prices Finish with Losses (Oct. 28, 2014)

SHANGHAI, Oct. 28 (SMM) – SHFE 1412 zinc contract prices opened at RMB 16,615/mt on Monday, then falling to RMB 16,565-16,600/mt, and closing at RMB 16,560/mt, down RMB 25/mt or 0.15%. Trading volumes were down 79,382 to 64,176 lots, and total positions rose 528 to 133,356 lots.

SHFE 1501 zinc contract became the most actively traded contract Tuesday, opening at RMB 16,535/mt, then touching as high as RMB 16,595/mt. But as LME zinc prices inched down, SHFE 1501 zinc contract prices weakened below RMB 16,500/mt in the afternoon, and closing at RMB 16,485/mt, down RMB 60/mt or 0.36%. Trading volumes decreased 51,398, to 95,466 lots, and total positions were up 314 lots to 128,896 lots. SHFE 1412 zinc contract prices are expected to follow a downward track.