Home / Metal News / Copper / SMM Morning Review - 2010/8/25 Zinc Market
SMM Morning Review - 2010/8/25 Zinc Market
Aug 25, 2010 10:18CST

SHANGHAI, Aug. 25 (SMM) -- Last night, the US government announced the existing home sales in July fell by 27%, hitting a record low since May 1995. Meanwhile, the US stocks slumped, with Dow Jones Industrial Average and Nasdaq Composite Index falling by 133.96 points and 35.87 points, respectively. In response, LME base metals prices continued to drop, with LME zinc prices even falling below USD 2,000/mt, at USD 1,985/mt. LME zinc prices finally closed at USD 1,998/mt, down USD 47/mt. Trading volumes were nearly 60,000 lots, while positions fell by nearly 3,000 lots. SMM predicts SHFE 1012 zinc contract prices will struggle at the 30-day moving average today.              


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

zinc price
zinc Zn

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news