SMM Morning Review - 2010/12/10 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2010/12/10 Zinc Market

SMM Insight 09:54:15AM Dec 10, 2010 Source:SMM

SHANGHAI, Dec. 10 (SMM) -- Most LME base metal prices closed with declines on Thursday and lost previous gains. Investors took a cautious attitude before the release of China import and export data on Friday, and then left the market after profit-taking on concerns that China will further adopt tightened monetary policies. In this context, the US dollar index overnight rebounded to above 80 from 79.7. LME zinc prices fell after touching USD 2,300/mt and finally closed at USD 2,285/mt, down USD 5/mt. Trading volumes decreased by over 3,000 lots to 80,000 lots, and total positions increased by 5,000 lots to 237,837 lots, with prices meeting pressure at 30-day moving average. SHFE zinc prices are expected to continue fluctuating 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 - 2010/12/10 Zinc Market

SMM Insight 09:54:15AM Dec 10, 2010 Source:SMM

SHANGHAI, Dec. 10 (SMM) -- Most LME base metal prices closed with declines on Thursday and lost previous gains. Investors took a cautious attitude before the release of China import and export data on Friday, and then left the market after profit-taking on concerns that China will further adopt tightened monetary policies. In this context, the US dollar index overnight rebounded to above 80 from 79.7. LME zinc prices fell after touching USD 2,300/mt and finally closed at USD 2,285/mt, down USD 5/mt. Trading volumes decreased by over 3,000 lots to 80,000 lots, and total positions increased by 5,000 lots to 237,837 lots, with prices meeting pressure at 30-day moving average. SHFE zinc prices are expected to continue fluctuating 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