SHFE 1702 Zinc Closes with Sharp Losses (2016-11-30)

SHANGHAI, Nov. 30 (SMM) – SHFE 1702 zinc rose to RMB 23,000/mt after opening and reached RMB 23,210/mt. but as ferrous metals fell by daily limit, SHFE 1701 zinc plunged to RMB 22,990/mt, and closed at RMB 22,590/mt, down RMB 1,705/mt or 7.02%. Trading volumes increased 359,000 lots to 875,000 lots, and positions decreased 48,842 to 166,000. Trading volumes increased 58,726 lots to 441,000 lots, and positions decreased 6,770 to 177,000. Trading volumes on SHFE zinc decreased 43,498 lots to 1.358 million lots, and positions decreased 35,046 to 428,000.SHFE 1701 zinc is expected to test support from RMB 22,230/mt in the evening session.