SMM Daily Review - 2009/12/18 Zinc Market

SHANGHAI, Dec. 21 (SMM) -- SHFE zinc prices opened low but went higher and later dipped negatively affected by A-share stock market. However, SHFE zinc prices soared supported by rising LME zinc prices and recovering stock markets, and climbed to RMB 19,180/mt, and closed at RMB 19,120/mt, up 1%. SHFE zinc prices moved higher again after short-term reductions.

In spot markets, SMM zinc prices increased by RMB 50/mt to a range of RMB 18,300-18,400/mt. Although downstream consumers held little interest in purchases in the morning, smelters and traders were still optimistic toward future zinc prices, and a limited number of traders even began purchases, and spot zinc prices are expected to climb above RMB 18,500/mt in Shanghai market in the coming week.

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