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SMM Morning Review - 2010/7/9 Zinc Market
Jul 9,2010 10:10CST
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Source:SMM

SHANGHAI, July 9 (SMM) -- The euro strengthened for three consecutive days to 1.27 against the US dollar last night (July 8th), and Dow Jones Industrial Average, Nasdaq Composite Index, and Standard & Poor's 500 Index advanced further, also buoying base metals markets. LME zinc prices moved around USD 1,860/mt and closed at USD 1,865/mt, up USD 5/mt compared with the previous trading day, with the highest prices reported at USD 1,880/mt. LME zinc prices are expected to continue to move in a narrow band.

SHFE zinc prices edged lower yesterday, and trading volumes and positions of SHFE 1010 zinc contract declined, an indication of market players' cautious attitude. SMM predicts SHFE 1010 zinc contract prices will continue to fluctuate in the RMB 15,600-15,800/mt range today. 

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

 

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