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SHFE Zinc Prices down 2.18% (2016-12-22)
Dec 22, 2016 17:40Source:SMM
SHFE 1702 zinc dived to RMB 21,090/mt after opening and finally closed at RMB 20,830/mt, down RMB 465/mt or 2.18%.
SHANGHAI, Dec. 22 (SMM) – On Thursday, SHFE 1702 zinc dived to RMB 21,090/mt after opening. During the afternoon trading, SHFE 1702 zinc dropped to RMB 20,690/mt quickly, hurt by positions opening by shorts. The contract finally closed at RMB 20,830/mt, down RMB 465/mt or 2.18%. Trading volumes were up 4,136 to 407,000 lots and positions were down 4,702 to 189,000. Ferrous metals dropped sharply on Thursday and base metals fell across the board. SHFE 1702 zinc failed rallying to the 40-day moving average on Wednesday with lack of rising strength.
SHFE 1702 zinc will keep fluctuating weakly on Thursday’s night trading.
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