SHFE Zinc Prices Post Losses (May 5, 2016)

SHANGHAI, May 5 (SMM) – SHFE 1607 zinc opened at RMB 14,960/mt last evening and dived to RMB 14,910/mt. The contract later moved above RMB 15,000/mt before closing at RMB 15,015/mt, down RMB 50/mt. Trading volumes of SHFE 1607 zinc were 139,000, and positions grew 4,284 to 150,000.

SHFE 1607 zinc hovered around RMB 15,000/mt on Thursday and once sank to RMB 14,885/mt with shorts gathering strength. The contract later rallied to RMB 14,950/mt and closed at RMB 14,900/mt, down RMB 165/mt. Trading volumes of SHFE 1607 zinc grew 90,000 to 303,000, and positions were up 12,000 to 158,000.