SMM Morning Review - 2010/9/3 Zinc Market

SHANGHAI, Sept. 3 (SMM) -- The US initial jobless claims fell by 6,000 to 472,000 in the week ended August 28th, and the US National Association of Realtors announced that the pending home sales in July rose by 5.2% from June levels, better than expected. Boosted by the positive economic data, both Dow Jones Industrial Average and Nasdaq Composite Index closed with gains, helping support base metals prices to extend gains. LME zinc prices broke through the previous high, with prices climbing to as high as USD 2,192/mt and finally closing at USD 2,165/mt, up USD 10/mt.                 

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