SHFE 1709 Zinc Edges up (2017-7-17)

SHANGHAI, Jul. 17 (SMM) – SHFE 1709 zinc opened at RMB 22,930/mt today and then rose to RMB 23,000/mt. China’s GDP rose 6.9% YoY in the first half of the year, topping market expectations. This boosted market confidence and drove up zinc prices. In the afternoon, SHFE 1709 zinc rose to RMB 23,300/mt, and closed at RMB 23,320/mt, up RMB 355/mt or 1.55%. Trading volumes on SHFE 1708 zinc increased 74,000 to 570,000 lots, and positions added 11,882 to 298,000. SHFE 1708 zinc may test RMB 23,500/mt this evening. SHFE 1707 zinc is delivered today, with prices opening at RMB 23,050/mt and closing at RMB 23,250/mt. Settlement price was RMB 23,100/mt. Deliveries were 23,950 mt. Trading volumes on SHFE 1707 zinc decreased 1,550 to 2,080 lots, and positions added 210 to 9,580.