SHANGHAI, Mar. 1 (SMM) – On Wednesday, SHFE 1704 zinc started at RMB 23,015/mt and then declined to RMB 22,950/mt. Trump indicated on his first address to Congress that he will apply for USD 1 trillion for infrastructure construction, sending base metals up. SHFE 1704 zinc surged to RMB 23,200/mt with positions opening by longs, up to as high as RMB 23,310/mt. The contract stayed firm at the tail of trading and closed at RMB 23,290/mt, up RMB 415/mt or 1.81%. Trading volumes rose 40,836 to 508,000 lots and positions increased 5,034 to 155,000.
SHFE 1704 zinc will remain firm on Wednesday’s night trading.
