SHANGHAI, Jun. 15 (SMM) – SHFE 1608 zinc opened at RMB 15,650/mt overnight, and was more resistant to declines than LME zinc. Trading volumes of SHFE 1608 zinc were 137,000, and positions were down 1,368 to 227,000.
SHFE 1608 zinc hovered around RMB 15,600/mt in the morning, and fluctuated in a RMB 20/mt range, and closed at RMB 15,725/mt, down RMB 115/mt. Trading volumes of SHFE 1608 zinc were down 13,000 to 324,000, and positions were down 15,000 to 213,000. Today is the last trading day for June zinc, which settled at RMB 15,550/mt. Deliveries are expected to be 88,000 mt at the most. Spot premiums were RMB 100/mt against SHFE front-month zinc in Shanghai. August zinc is expected to rally to RMB 15,800/mt.