SHANGHAI, May 22 (SMM) – SHFE 1707 zinc opened at RMB 22,260/mt today and pulled up to RMB 22,525/mt, the highest from April 10, and then fluctuated around RMB 22,320/mt. In the afternoon, SHFE 1707 zinc hovered around RMB 22,200/mt, and closed at RMB 22,195/mt, up RMB 895/mt or 4.20%.
Trading volumes on SHFE 1707 zinc increased 64,448 to 990,000 lots, and positions fell 1,176 to 303,000. SHFE 1707 zinc led price gains of nonferrous metals today. The price spread between SHFE 1706 and SHFE 1707 zinc is RMB 390/mt. SHFE 1707 zinc is expected to hover between the 40-day and 60-day moving averages this evening.