SMM Morning Review - 2010/12/17 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2010/12/17 Zinc Market

SMM Insight 09:22:44AM Dec 17, 2010 Source:SMM

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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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 - 2010/12/17 Zinc Market

SMM Insight 09:22:44AM Dec 17, 2010 Source:SMM

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.

 

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