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.