SHFE Zn price down on higher trader stocks
Feb 13, 2019 18:30
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Zinc futures on Shanghai Futures Exchange have been tracking south since business resumed following the Chinese New Year holiday, mainly because stocks had swollen over the holiday, market sources said Wednesday. A further complication is that while the domestic zinc market is witnessing stable supply, demand is weak, they said.
The most traded zinc contract on SHFE, that for March delivery, has declined for three consecutive days since the end of the CNY holiday, losing a total of Yuan 955/tonne ($141.4/t) from the closing price on February 1 to end the daytime session on February 13 at Yuan 21,440/t.