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SMM Morning Review - 2010/12/17 Zinc Market
Dec 17,2010 09:22CST
smm insight

SHANGHAI. Dec. 17 (SMM)--Moody put Greece's debt credit ratings on review for a possible downgrade, heightening market concerns over European debt crisis. In this context, LME base metals prices mostly closed with declines and the US dollar index fluctuated narrowly above 80. LME zinc prices overnight dipped to USD 2,300/mt mark, with prices opening lower at USD 2,223/mt, and finally closing at USD 2,235/mt, down USD 85.3/mt, or down 3.67%, and with prices standing at 20-day moving average. Trading volumes slightly increased by over 1,000 lots to 50,645 lots, and total positions increased by 1,000 lots to 231,849 lots. SHFE zinc prices are expected to dip to RMB 18,000/mt level today.


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