SHANGHAI, Jun. 30 (SMM) – SHFE 1708 zinc opened at RMB 22,560/mt today and then plunged with longs fleeing from the market, and stopped falling around RMB 22,420/mt. Shorts lacked confidence due to strong ferrous metals, and retreated from the market with profit-taking. This helped zinc surge all the way through the end of trading. SHFE zinc closed at RMB 22,745/mt, up RMB 175/mt or 0.78%.
Trading volumes on SHFE 1708 zinc decreased 22,502 to 503,000 lots, and positions decreased 11,396 to 245,000. SHFE 1708 zinc will hover at highs this evening.