SMM Morning Review - 2010/7/6 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2010/7/6 Zinc Market

SMM Insight 09:56:10AM Jul 06, 2010 Source:SMM

SHANGHAI, July 6 (SMM) -- US markets were closed yesterday for the Independence Day holiday, and trading sentiment was quiet in base metals markets as a result. LME zinc prices edged higher during Asian trading hours, but later slipped, and finally prices closed at USD 1,815/mt, with the lowest prices reported at USD 1,795/mt. Technical indicator shows an unclear market direction. SHFE zinc prices faced pressure at RMB 15,400/mt yesterday, and a portion of long positions exited from the market before closing, so SMM predicts SHFE 1010 zinc contract prices will move around RMB 15,000/mt today.

To contact the writer on this report: monicagao@smm.cn

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn

Key Words:  zinc price  zinc Zn 

SMM Morning Review - 2010/7/6 Zinc Market

SMM Insight 09:56:10AM Jul 06, 2010 Source:SMM

SHANGHAI, July 6 (SMM) -- US markets were closed yesterday for the Independence Day holiday, and trading sentiment was quiet in base metals markets as a result. LME zinc prices edged higher during Asian trading hours, but later slipped, and finally prices closed at USD 1,815/mt, with the lowest prices reported at USD 1,795/mt. Technical indicator shows an unclear market direction. SHFE zinc prices faced pressure at RMB 15,400/mt yesterday, and a portion of long positions exited from the market before closing, so SMM predicts SHFE 1010 zinc contract prices will move around RMB 15,000/mt today.

To contact the writer on this report: monicagao@smm.cn

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn

Key Words:  zinc price  zinc Zn