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SMM Morning Review - 2010/9/25 Zinc Market
Sep 25,2010 09:34CST
smm insight
Source:SMM

SHANGHAI, Sept. 25 (SMM) -- Last Friday, the US government released that durable goods orders in August dropped, while new home sales in August were flat at July levels, helping confirm the Federal Reserve's plan to further implement the quantitative loose monetary policy in an effort to boost economy, and the US dollar index weakened to break the 80 mark in response, with the index falling to 79.255. In addition, both Dow Jones Industrial Average and Nasdaq Composite Index closed with gains, leading LME zinc prices to the previous high, and LME zinc prices climbed to USD 2,284.8/mt, and finally closed at USD 2,245/mt. Trading volumes increased by nearly 6,000 lots to 48,360 lots, while positions increased by over 3,000 lots to 219,446 lots.      

 

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