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SMM Morning Review - 2010/12/1 Zinc Market
Dec 1,2010 09:50CST
smm insight

SHANGHAI, Dec. 1 (SMM) -- The US dollar index overnight rebounded to above 81, but the US consumer confidence index for November rose to a 6-month high of 54.1. Meanwhile, the Chicago Purchasing Managers Index (PMI) rose to 62.5 in November from 60.6 in October, higher than the forecast of 60. The positive economic data boosted LME base metal prices. LME zinc prices overnight rallied to USD 2,100/mt and finally closed at USD 2,112/mt. Trading volumes increased significantly by over 20,000 lots to 75,523 lots, and total positions increased slightly by 100 lots to 234,310 lots. SHFE zinc prices are expected to rebound supported by the strengthened LME zinc prices.


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