SMM Morning Review - 2010/12/23 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2010/12/23 Zinc Market

SMM Insight 09:21:40AM Dec 23, 2010 Source:SMM

SHANGHAI, Dec. 23 (SMM)--According to data released on Wednesday, the Gross Domestic Product (GDP) in the United States expanded at an annual rate of 2.6 percent in the third quarter of 2010, an increase lower than the previous forecast of 2.8%. The number of US home sales during November was 4.68 million, also lower than the forecast of 4.71 million. In addition, since the Christmas holiday nears, investors left market after profit-taking. In this context, LME zinc prices overnight opened at USD 2,304/mt, with prices once touching USD 2,330/mt, but finally closed with declines at USD 2,304/mt. Trading volumes increased slightly by 2,000 lots to 39,763 lots, and total positions were 231,012 lots, and the transaction was weak.

 

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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 - 2010/12/23 Zinc Market

SMM Insight 09:21:40AM Dec 23, 2010 Source:SMM

SHANGHAI, Dec. 23 (SMM)--According to data released on Wednesday, the Gross Domestic Product (GDP) in the United States expanded at an annual rate of 2.6 percent in the third quarter of 2010, an increase lower than the previous forecast of 2.8%. The number of US home sales during November was 4.68 million, also lower than the forecast of 4.71 million. In addition, since the Christmas holiday nears, investors left market after profit-taking. In this context, LME zinc prices overnight opened at USD 2,304/mt, with prices once touching USD 2,330/mt, but finally closed with declines at USD 2,304/mt. Trading volumes increased slightly by 2,000 lots to 39,763 lots, and total positions were 231,012 lots, and the transaction was weak.

 

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