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SMM Morning Review - 2010/12/23 Zinc Market
Dec 23,2010 09:21CST
smm insight
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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