SHANGHAI, Feb. 10 (SMM) – Ferrous metals surged today with rebar and hot-rolled coil rising over 2%. Iron ore rose by daily limit.
SHFE 1703 zinc opened at RMB 23,125/mt today, and surged to a 2-month high of RMB 23,570/mt in the afternoon, and closed at RMB 23,415/mt, up RMB 340/mt or 1.47%.
Positions on SHFE 1704 zinc increased 13,170 lots to 149,000. Trading volumes on SHFE zinc increased 139,000 lots to 731,000 lots, and positions increased 24,396 to 411,000. SHFE 1704 zinc should remain strong this evening.
