SMM Morning Review - 2011/1/20 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2011/1/20 Zinc Market

SMM Insight 09:16:44AM Jan 20, 2011 Source:SMM

SHANGHAI, Jan. 20 (SMM)--The US dollar index further dipped to 78.4. But the US housing data were mixed. US housing starts for December were down 4.3% to an annual rate of 529,000, lower than the forecast of 550,000. But permits for new construction leaped 6.1% to an annual rate of 635,000, higher than the forecast of 555,000. In this context, LME zinc prices overnight opened at USD 2,442/mt, and then fell below USD 2,400/mt, with prices finally closing at USD 2,395/mt at the 20-day moving average. Trading volumes decreased by over 20,000 lots to 58,120 lots, and total positions decreased by 3,637 lots to 241,426 lots.

 

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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 - 2011/1/20 Zinc Market

SMM Insight 09:16:44AM Jan 20, 2011 Source:SMM

SHANGHAI, Jan. 20 (SMM)--The US dollar index further dipped to 78.4. But the US housing data were mixed. US housing starts for December were down 4.3% to an annual rate of 529,000, lower than the forecast of 550,000. But permits for new construction leaped 6.1% to an annual rate of 635,000, higher than the forecast of 555,000. In this context, LME zinc prices overnight opened at USD 2,442/mt, and then fell below USD 2,400/mt, with prices finally closing at USD 2,395/mt at the 20-day moving average. Trading volumes decreased by over 20,000 lots to 58,120 lots, and total positions decreased by 3,637 lots to 241,426 lots.

 

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