SHANGHAI, May 25 (SMM) – The shift was made to SHFE 1508 zinc contracts last week, with prices opening at RMB 16,500/mt last Friday evening, then hovered around RMB 16,530/mt, and closed at RMB 16,545/mt, down RMB 110/mt or 0.66%. Total positions grew 4,950 to 84,316.
SHFE 1507 zinc contract prices opened at RMB 16,545/mt on Monday, then fluctuated between RMB 16,500-16,600/mt with the lack of direction from the LME market, and closed at RMB 16,545/mt, down RMB 110/mt or 0.66%. Trading volumes decreased 14,502 to 64,368 lots, and total positions grew 4,434 to 84,232. SHFE 1508 zinc contract prices are expected to test support from the 60-day moving average this evening.