SHFE Zinc Prices Closed Lower (2016-5-9)

SHANGHAI, May 9 (SMM) – SHFE 1607 zinc reached RMB 15,135/mt last Friday evening, and closed at RMB 14,970/mt, up RMB 145/mt. Trading volumes of SHFE 1607 zinc soared 248,000 to 217,000, and positions increased 14,000 to 178,000.

Ferrous metals plunged after opening today, and base metals fell across the board, with copper and nickel leading declines.

SHFE 1607 zinc fell to a 3-week low of RMB 14,650/mt today and closed at RMB 14,745/mt, down RMB 80/mt. Trading volumes of SHFE 1607 zinc grew 154,000 to 550,000, and positions increased 18,000 to 183,000. SHFE zinc price volatility is nearly RMB 500/mt today. Positions on August zinc on the SHFE surged 11,000.