Metals News
SMM Morning Review - 2010/12/15 Zinc Market
smm insight
09:22AM
Dec 15,2010
Source:SMM

SHANGHAI, Dec. 15 (SMM)--The US Federal Reserve (Fed) reiterated last night it will purchase USD 600 billion to stimulate economic growth. In this context, the US dollar index generally moved between 79.1 and 79.4; LME zinc prices overnight opened at USD 2,328/mt, with prices once touching a high of USD 2,357/mt, but fell later and finally closed at USD 2,325/mt. Trading volumes increased slightly by 3,000 lots to 80,238 lots, and total positions slightly increased by 400 lots to 244,663 lots. Zinc inventories at New Orleans increased by nearly 70,000 mt in the past two days, a six-year high level. SHFE zinc prices are expected to fluctuate today.

 

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