SMM Morning Review - 2010/7/15 Zinc Market

SHANGHAI, July 15 (SMM) -- The US retail sales in June fell by 0.5% compared with May levels, with analysts' prediction of a drop of 0.2%. In addition, the US Department of Labor released that import and export prices of goods in June also experienced month-month declines. LME zinc prices fell further, and finally closed at USD 1,830/mt. Market players are focused on China's economic data for June and for 1H 2010 set for release today. The Agricultural Bank of China (ABC) which plans the world's largest initial public offering (IPO) is scheduled to start trading on the Shanghai Stock Exchange today, and any effects of this issue are also the focus of market players. SHFE zinc prices are waiting for the release of China's economic data and stock market movements, and market players prefer to stay out of the market as the delivery date of SHFE 1007 zinc contract nears.

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