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SMM Morning Review - 2010/8/16 Zinc Market
Aug 16, 2010 09:49CST
Source:SMM

SHANGHAI, Aug. 16 (SMM) -- The US dollar index rose to 82.92 last Friday, and Dow Jones Industrial Average declined by 0.16%. In response, LME base metals prices closed with declines, but LME zinc prices fell at a slower pace, with prices standing steady at USD 2,050/mt. Special focus should be put on the US dollar trends and the support for LME zinc prices at USD 2,000/mt today. 

SHFE 1012 zinc contract has become the most actively-traded contract, and SHFE 1012 zinc contract prices remained on an upward track in the afternoon last Friday, and finally closed at RMB 17,255/mt. SMM predicts SHFE 1012 zinc contract prices will struggle at RMB 17,000/mt today.             

 

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