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Home / Metal News / SMM Morning Review - 2010/12/22 Zinc Market

SMM Morning Review - 2010/12/22 Zinc Market

Dec 22, 2010 09:23

Source:SMM

SHANGHAI, Dec. 22 (SMM)--Chinese Vice Premier Wang Qishan said during the third China-EU High Level Economic and Trade Dialogue yesterday that China will support the stable monetary policies by the European Union and International Monetary Fund (IMF). Boosted by the news, Dow Jones Industrial Average up 55.03 points and closed at 11533.16 points, with a gain of 0.48%; Nasdaq Composite Index rose 18.05 points and closed at 2667.61 points, or up 0.68%. The US dollar index still moved between 80.3 and 80.8, but LME zinc prices still met pressure at 60-day moving average, with prices finally closing at USD 2,315/mt, down USD 9.8/mt. Trading volumes decreased by 50,000 lots to 37,946 lots, and total positions slightly decreased by nearly 1,000 lots to 231,407 lots. Trading sentiment was weak before Christmas holiday.

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SMM Morning Review - 2010/12/22 Zinc Market

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