SHANGHAI, Mar. 16 (SMM) – SHFE 1605 zinc contract prices opened at RMB 14,075/mt on Tuesday evening. Positions increased over 7,000 with entry of shorts. This pushed down SHFE 1605 zinc to RMB 13,825/mt and closed at RMB 13,925/mt, down RMB 190/mt.
SHFE 1605 zinc hovered around RMB 13,900/mt. As some shorts left the market at the end of trading, SHFE 1605 zinc closed at RMB 13,970/mt, down RMB 145/mt. Trading volumes increased 80,000 to 518,000 lots, with positions down 8,098 to 169,000. US February core CPI slated for release this evening is expected to remain flat at January’s. The US Fed will unlikely raise interest rate in March.