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SHFE 1708 Zinc Rises Further (2017-6-30)
Jun 30, 2017 19:54Source: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.
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.
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