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Zinc Prices Down on Sluggish Demand from China, Europe, the US
May. 03, 2013 10:56AM PST
Base Metals Investing Shanghai Metals Market reported that zinc prices on the London Metal Exchange dropped sharply during China’s May Day holiday, brought down by economic data indicating that demand from China, Europe and the US is lackluster.
Shanghai Metals Market reported that zinc prices on the London Metal Exchange dropped sharply during China’s May Day holiday, brought down by economic data indicating that demand from China, Europe and the US is lackluster.
As quoted in the market news:
SHFE 1308 zinc contracts became the most actively traded contracts, with decreases narrowing as buyers entered the market, fluctuating between RMB 14,390-14,420/mt. Finally, SHFE 1308 zinc contract prices closed at RMB 14,410/mt, down RMB 410/mt or 2.77%. Trading volumes increased by 11,330 lots, to 108,804 lots, and total positions increased by 14,228 lots to 118,682 lots.
Click here to read the full Shanghai Metals Market report.