SHANGHAI, Jul. 31 (SMM) – SHFE 1510 zinc contract prices opened at RMB 14,815/mt last Friday evening, then rose to RMB 14,970/mt, and dropped back due to selling pressure and closed at RMB 14,730/mt, down RMB 150/mt or 1.01%. Trading volumes increased 27804 to 75,236 lots, and total positions grew 7,862 to 136,028.
SHFE 1510 zinc contract prices rose after opening today, then moved around RMB 14,750/mt. With a large number of shorts rushing into the market, SHFE 1510 zinc contract prices fell back to as low as RMB 14,540/mt, and closed at RMB 14,585/mt, down RMB 285/mt or 1.92%. Trading volumes increased 77,904 to 176,040 lots, and total positions increased 16,898 to 145,064. SHFE 1509 zinc contract prices are expected to test support from RMB 14,500/mt.