SHANGHAI, Mar. 28 (SMM) – SHFE 1705 zinc opened at RMB 22,720/mt today, and then hovered around RMB 22,720/mt, with the high-end of RMB 22,830/mt. In the afternoon, ferrous metals plunged, depressing the market. With increasing shorts, SHFE 1705 zinc fell and dipped to RMB 22,490/mt, and closed at RMB 22,570/mt, down RMB 485/mt or 2.10%.
Trading volumes on SHFE 1705 zinc decreased 126,000 to 740,000, and positions decreased 14,136 to 248,000. Trading volumes on SHFE 1706 zinc decreased 20,978 to 177,000, and positions added 14,970 to 159,000. SHFE 1705 zinc is expected to remain weak this evening.