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SMM Morning Review - 2011/1/26 Zinc Market

iconJan 26, 2011 09:11
Source:SMM

SHANGHAI, Jan. 26 (SMM)--The US dollar index plummeted to 77.8 during the Asian trading hours, but rebounded to 78.3 in the evening, weighing down LME zinc prices overnight to fall below USD 2,300/mt. The US Consumer Confidence Index (CCI) for November was 60.6, higher than the forecast of 54.3, dragging down the US dollar index at the end of trading. However, LME zinc prices failed to rally and finally closed at USD 2,240/mt, down 2.82%. Trading volumes increased by nearly 10,000 lots to 66,669 lots, and total positions decreased by 35 lots to 231,736 lots.

 

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