10.07.2014 - Now China’s metal funds turn their attention to zinc market
Hedge funds in China have turned their attention to the zinc market, where open interest on the Shanghai Futures Exchange, for example, has risen steeply over the past month, sources said. On June 11, zinc open interest on SHFE rose by 38% from the previous day and on July 8, another 68,308 lots were added, taking total open interest to 412,360 lots in total. The same day, the LME three-month zinc price recorded a fresh three-year high of $2,318.50 per tonne. The raised interest in the SHFE's zinc contract stems largely from the interest of China's commodity funds, which are emerging as important participants in the metal markets, well-informed sources said...............................................Full Article: Source
Print