SHFE Zinc Prices Down on Market Bearishness (Jan. 7, 2016)

SHANGHAI, Jan. 7 (SMM) – SHFE 1603 zinc contract prices opened at RMB 13,020/mt Wednesday evening, and were resistant to declines on yuan’s devaluation, and closed at RMB 13,095/mt, down RMB 45/mt. Trading volumes were 138,000 lots. Total positions increased 2,530 to 183,000.

SHFE 1603 zinc opened at RMB 13,095/mt on Thursday. China’s stock markets plunged, growing market bearishness. SHFE 1603 zinc closed the day at RMB 12,885/mt, down RMB 255/mt. Trading volumes of SHFE 1603 zinc contracts grew 72,000 to 455,000 lots, with total positions down 2,426 to 178,000. Total positions on SHFE zinc fell over 40,000 this week.