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SMM Morning Review - 2010/9/2 Zinc Market
Sep 2,2010 10:01CST
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SHANGHAI, Sept. 2 (SMM) -- The China Federation of Logistics and Purchasing (CFLP) said yesterday the Purchasing Managers Index (PMI) of China's manufacturing sector rose slightly to 51.7% in August, marking an end to three consecutive months of declines. The Institute for Supply Management's manufacturing index rose to 56.3 in August, also stronger than expected. As a result, the US dollar index moved lower to around 82.35, while Dow Jones Industrial Average strengthened to 10,279.08 points, and LME base metals prices also closed with gains last night. LME zinc prices closed at USD 2,155/mt, up USD 80/mt, with prices moving above all moving averages.                 


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