SMM Morning Review - 2010/12/9 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2010/12/9 Zinc Market

SMM Insight 09:50:49AM Dec 09, 2010 Source:SMM

SHANGHAI, Dec. 9 (SMM) -- The German Economy Ministry announced on Wednesday that the industrial production in October rose by 2.9% from September levels, and increased by 11.7% from 2009 levels, stronger than the previous forecast of 0.8%, indicating the pace of German economic recovery is accelerating. Although the US dollar index rebounded slightly last night to 80.3, LME zinc prices remained strong, and opened at USD 2,244/mt, with prices once hitting a high of USD 2,314/mt and finally closing at USD 2,290/mt, up USD 10/mt. Trading volumes increased by 2,000 lots to 83,243 lots, while positions increased by 1,000 lots to 232,619 lots. SMM predicts SHFE zinc prices will struggle at RMB 18,000/mt 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 

SMM Morning Review - 2010/12/9 Zinc Market

SMM Insight 09:50:49AM Dec 09, 2010 Source:SMM

SHANGHAI, Dec. 9 (SMM) -- The German Economy Ministry announced on Wednesday that the industrial production in October rose by 2.9% from September levels, and increased by 11.7% from 2009 levels, stronger than the previous forecast of 0.8%, indicating the pace of German economic recovery is accelerating. Although the US dollar index rebounded slightly last night to 80.3, LME zinc prices remained strong, and opened at USD 2,244/mt, with prices once hitting a high of USD 2,314/mt and finally closing at USD 2,290/mt, up USD 10/mt. Trading volumes increased by 2,000 lots to 83,243 lots, while positions increased by 1,000 lots to 232,619 lots. SMM predicts SHFE zinc prices will struggle at RMB 18,000/mt 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