MARKET TALK: China Zinc Futures Up On Debut In Active Trade

Zinc futures traded on Shanghai Futures Exchange higher on debut, as "the listing benchmark price given by the exchange was a bit lower than cash prices", says analyst at Shanghai-based Jiuheng Futures. Trade more active than expected, reflecting strong domestic market demand for new hedging tool, analysts say. Benchmark July 2007 contract at CNY29,220/ton, +CNY710 from listing price. LME 3-month zinc at $3,155/ton, +$5 from Friday's PM kerb.