SHANGHAI, Nov. 15 (SMM) – Commodity prices in China plunged today, with ferrous metals falling across the board. Nonferrous metals tumbled. But SHFE zinc remained firm.
SHFE 1701 zinc rose to RMB 22,100/mt immediately after opening, the highest in 7 years, but then fell with other futures markets. SHFE 1701 zinc closed at RMB 21,115/mt, up RMB 265/mt or 1.27%. Trading volumes decreased 1,474 to 1.17 million lots, and positions increased 12,572 to 261,000.
SHFE 1611 zinc was delivered today, closing at RMB 21,920/mt, SHFE 1701 zinc is expected to fall slightly in the evening.