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SMM Morning Review - 2010/12/16 Zinc Market
Dec 16,2010 09:41CST
smm insight

SHANGHAI, Dec. 16 (SMM)-- U.S. industrial output up 0.4% during November, a seven-month high, while the forecast was a 0.3% increase. In this context, the US dollar index overnight rebounded to 80 from 79.5. As a result, LME zinc prices were weighed down to USD 2,300/mt mark and dipped to USD 2,258/mt. At the end of trading, LME zinc prices rallied and finally closed at USD 2,320/mt, with prices meeting pressure at 60-day moving average. The transaction was weak. Trading volumes decreased by nearly 30,000 lots to 49,773 lots, and total positions decreased by over 10,000 lots to 230,955 lots. SHFE zinc prices are expected to further fall today.


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