SHANGHAI, May 11 (SMM) – SHFE 1507 zinc contract prices opened at RMB 17,120/mt last Friday evening, then touched RMB 17,190/mt, then fell back below the 10-day moving average and closed at RMB 17,040/mt, down RMB 100/mt or 0.58%. Trading volumes increased 14,350 to 76,636 lots, and total positions declined 1,104 to 153,454.
SHFE 1507 zinc contract prices opened at RMB 17,040/mt on Monday, then dipped to as low as RMB 16,925/mt as the news of China’s interest rate cut had been absorbed, but rallied to RMB 17,000/mt in the afternoon, and closed at RMB 17,095/mt, down RMB 45/mt or 0.26%. Trading volumes decreased 4,856 to 160,890 lots, and total positions fell 3,476 to 151,082. SHFE 1507 zinc contract prices are expected to fall further in the near term.