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SMM Morning Review - 2010/12/3 Zinc Market
Dec 3,2010 10:25CST
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SHANGHAI, Dec. 3 (SMM) -- The US National Association of Realtors (NAR) released on Thursday that US Pending Home Sales Index rose by 10.4% to 89.3 in October, better than the previous forecast. The US dollar index fell from 80.7 to 80 due to positive economic data, boosting LME base metal prices on Thursday. LME zinc prices overnight opened higher at USD 2,226/mt, with prices finally closing at a high of USD 2,237/mt. Trading volumes decreased by nearly 5,000 lots to 71,167 lots, and total positions decreased by over 2,000 lots to 229,212 lots. SHFE zinc prices are expected to continue rebounding today.


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