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Home / Metal News / SMM Morning Review - 2011/1/19 Zinc Market

SMM Morning Review - 2011/1/19 Zinc Market

Jan 19, 2011 09:13

Source:SMM

SHANGHAI, Jan. 19 (SMM)--The US dollar index overnight dipped to 78.6. Meanwhile, the ZEW economic-sentiment indicator for Germany jumped to 15.4 points in January, much higher than the forecast. In this context, LME zinc prices surged to USD 2,455/mt, but closed with declines given the weak trading sentiment as the Chinese New Year nears and on speculations that China will take further tightening monetary policies. Finally, LME zinc prices closed at USD 2,440/mt, with prices plummeting to the 10-day moving average. Trading volumes increased by over 10,000 lots to 79,747 lots, and total positions decreased by 2,376 lots to 245,063 lots.

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