SMM Morning Review - 2010/7/8 Zinc Market-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • Rare earths
  • Rare earth
  • Market commentary
  • Zinc
  • Iron ore
  • Aluminium
  • Sales data
  • Macroeconomics
  • MMi Iron Ore Port Index
  • Copper
  • Futures movement
  • precious metals
  • Evening comments
  • Stainless steel

SMM Morning Review - 2010/7/8 Zinc Market

SMM Insight 10:19:50AM Jul 08, 2010 Source:SMM

SHANGHAI, July 8 (SMM) -- The US stocks recovered and the US dollar index fell further to below 84 on Wednesday, helping LME zinc prices pare previous losses recorded during Asian trading hours. LME zinc prices finally closed at USD 1,860/mt, with prices rising for four consecutive days and climbing to above all moving averages. SMM predicts LME zinc prices will continue to fluctuate at high levels in the near term.

SHFE zinc prices were still facing heavy selling pressure at RMB 15,500/mt, and SHFE 1010 zinc contract prices only climbed to RMB 15,490/mt yesterday negatively affected by China’s stock markets. SMM predicts SHFE zinc prices may challenge the RMB 15,500/mt resistance level 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 - 2010/7/8 Zinc Market

SMM Insight 10:19:50AM Jul 08, 2010 Source:SMM

SHANGHAI, July 8 (SMM) -- The US stocks recovered and the US dollar index fell further to below 84 on Wednesday, helping LME zinc prices pare previous losses recorded during Asian trading hours. LME zinc prices finally closed at USD 1,860/mt, with prices rising for four consecutive days and climbing to above all moving averages. SMM predicts LME zinc prices will continue to fluctuate at high levels in the near term.

SHFE zinc prices were still facing heavy selling pressure at RMB 15,500/mt, and SHFE 1010 zinc contract prices only climbed to RMB 15,490/mt yesterday negatively affected by China’s stock markets. SMM predicts SHFE zinc prices may challenge the RMB 15,500/mt resistance level 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