SHANGHAI, Jun. 12 (SMM) – SHFE 1708 zinc opened at RMB 21,520/mt today and then edged down to RMB 21,430/mt. In the afternoon, SHFE 1708 zinc rallied to RMB 21,490/mt after falling to test daily moving average and closed at RMB 21,405/mt, up RMB 370/mt or 1.76%.
Trading volumes on SHFE 1708 zinc decreased 10,278 to 365,000 lots, and positions increased 14,176 to 275,000. The price spread between SHFE 1706 zinc and SHFE 1708 zinc was RMB 2,095/mt. SHFE 1708 zinc should remain range-bound in the evening.