SMM Morning Review - 2010/12/2 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2010/12/2 Zinc Market

SMM Insight 09:58:27AM Dec 02, 2010 Source:SMM

SHANGHAI, Dec. 2 (SMM) -- The US Institute for Supply Management (ISM) released on Wednesday that US Manufacturing Index for November rose for the 16th straight month to 56.6. Meanwhile, Chinas official and HSBC's Purchasing Managers Index (PMI) of China's manufacturing sector hit a multi-month high, a signal of steady economic growth in China. The positive economic data hampered the US dollar index from rebounding last week, with the index moving around 81. LME zinc prices opened at USD 2,125/mt and finally closed at a high of USD 2,182/mt, up USD 67/mt, with prices standing at the 10-day moving average. Trading volumes increased by over 1,000 lots to 76,014 lots, and total positions decreased by nearly 3,000 lots to 231,735 lots. SHFE zinc prices are expected to rally today.

 

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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

Key Words:  LME market   zinc price  zinc Zn 

SMM Morning Review - 2010/12/2 Zinc Market

SMM Insight 09:58:27AM Dec 02, 2010 Source:SMM

SHANGHAI, Dec. 2 (SMM) -- The US Institute for Supply Management (ISM) released on Wednesday that US Manufacturing Index for November rose for the 16th straight month to 56.6. Meanwhile, Chinas official and HSBC's Purchasing Managers Index (PMI) of China's manufacturing sector hit a multi-month high, a signal of steady economic growth in China. The positive economic data hampered the US dollar index from rebounding last week, with the index moving around 81. LME zinc prices opened at USD 2,125/mt and finally closed at a high of USD 2,182/mt, up USD 67/mt, with prices standing at the 10-day moving average. Trading volumes increased by over 1,000 lots to 76,014 lots, and total positions decreased by nearly 3,000 lots to 231,735 lots. SHFE zinc prices are expected to rally 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

Key Words:  LME market   zinc price  zinc Zn