SHANGHAI, Feb. 14 (SMM) – On Tuesday, China’s CPI rose 2.5% YoY, which was higher than expectation at 2.4% and PPI expanded 6.9% YoY, hitting the highest level from August 2011.
On Tuesday, SHFE 1704 zinc opened at RMB 24,030/mt and then fluctuated at RMB 23,760-23,860/mt, down as low as RMB 23,710/mt. During the afternoon trading, SHFE 1704 zinc advanced to RMB 24,010/mt with positions opening by longs and then dropped slightly. SHFE 1704 zinc finally closed at RMB 23,890/mt, down RMB 80/mt or 0.33%. Trading volumes were down 57,090 to 254,000 lots and positions were up 2,376 to 165,000.
SHFE 1704 zinc will increase on Tuesday’s night trading.
