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SHFE 1710 Zinc Experiences Instability (2017-8-22)
Aug 22, 2017 17:36SHFE 1710 zinc opened at RMB 26,350/mt today and then tested RMB 26,400/mt.
SHANGHAI, Aug. 22 (SMM) – SHFE 1710 zinc opened at RMB 26,350/mt today and then tested RMB 26,400/mt. But with longs fleeing, SHFE 1710 zinc plunged to RMB 26,070/mt, and strengthened to RMB 26,170/mt since shorts left the market.
In the afternoon, SHFE 1710 zinc fluctuated around RMB 26,150/mt, and closed at RMB 26,310/mt, down RMB 90/mt or 0.34%. Trading volumes decreased 387,000 to 681,000 lots, and positions decreased 24,500 to 285,000. SHFE 1710 zinc will hover at highs this evening.
LME Zinc prices
SHFE zinc prices
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