SMM Morning Review - 2010/7/28 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2010/7/28 Zinc Market

SMM Insight 09:51:19AM Jul 28, 2010 Source:SMM

SHANGHAI, July 28 (SMM) -- LME base metals prices failed to extend rallies last night, and began to slip after the US dollar index climbed slightly to 82.3. LME three-month zinc contract prices finally closed at USD 1,910/mt, with the lowest prices reported at USD 1,895/mt, breaking through the 5-day moving average. Market players are focused on whether or not LME zinc prices can hold steady above USD 1,900/mt. SHFE zinc prices plummeted at the closing yesterday, and large amounts of long positions exited from the market, and LME zinc prices fell slightly last night. In this context, SHFE 1011 zinc contract prices are expected to fall slightly today, with prices expected to move between RMB 15,800-16,000/mt.               

 

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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 - 2010/7/28 Zinc Market

SMM Insight 09:51:19AM Jul 28, 2010 Source:SMM

SHANGHAI, July 28 (SMM) -- LME base metals prices failed to extend rallies last night, and began to slip after the US dollar index climbed slightly to 82.3. LME three-month zinc contract prices finally closed at USD 1,910/mt, with the lowest prices reported at USD 1,895/mt, breaking through the 5-day moving average. Market players are focused on whether or not LME zinc prices can hold steady above USD 1,900/mt. SHFE zinc prices plummeted at the closing yesterday, and large amounts of long positions exited from the market, and LME zinc prices fell slightly last night. In this context, SHFE 1011 zinc contract prices are expected to fall slightly today, with prices expected to move between RMB 15,800-16,000/mt.               

 

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