Metals News
SMM Morning Review - 2010/12/14 Zinc Market
smm insight

SHANGHAI, Dec. 14 (SMM)--China’s retail sales of consumer goods for November rose by 18.7% YoY, and industrial added value up 13.3%. However, China didn’t hike the interest rate on these positive economic data, easing market sentiment. In this context, the US dollar index overnight weakened and dipped to 79.2; LME zinc prices surged to USD 2,300/mt and finally closed at USD 2,312/mt, up USD 39.8/mt, or up 1.75%, with prices standing above 30-day moving average. Trading volumes significantly increased by 17,000 lots to 77,299 lots, and total positions slightly increased by 1,000 lots to 243,079 lots. SHFE zinc prices are expected to continue rebounding today.




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