SMM Morning Review - 2010/12/16 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2010/12/16 Zinc Market

SMM Insight 09:41:15AM Dec 16, 2010 Source:SMM

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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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  SHFE market  zinc price  zinc Zn 

SMM Morning Review - 2010/12/16 Zinc Market

SMM Insight 09:41:15AM Dec 16, 2010 Source:SMM

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.

 

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  SHFE market  zinc price  zinc Zn