SHFE 1707 Zinc Closes with Drops (2017-6-5)

Jun 5, 2017 17:33

SHFE 1707 zinc opened at RMB 21,735/mt today and fell to RMB 21,680/mt, but then plunged to RMB 21,480/mt with shorts rushing in.

SHANGHAI, Jun. 5 (SMM) – SHFE 1707 zinc opened at RMB 21,735/mt today and fell to RMB 21,680/mt, but then plunged to RMB 21,480/mt with shorts rushing in. In the afternoon, SHFE 1707 zinc edged up to RMB 21,550/mt, closing at RMB 21,430/mt, down RMB 335/mt or 1.54%.

Trading volumes on SHFE 1707 zinc increased 121,000 to 558,000 lots, and positions decreased 6,718 to 222,000. The price spread between SHFE 1706 and SHFE 1707 zinc is RMB 670/mt. Positions on SHFE 1706 zinc decreased 8,060 to 37,530. Positions on SHFE 1708 zinc increased 4,144 to 219,342. SHFE 1707 zinc is expected to hover at lows this evening.

LME Zinc prices

SHFE zinc prices

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SHFE 1707 Zinc Closes with Drops (2017-6-5)

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