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Home / Metal News / SMM Morning Review - 2011/2/9 Zinc Market

SMM Morning Review - 2011/2/9 Zinc Market

iconFeb 9, 2011 10:40
Source:SMM

SHANGHAI, Feb. 9 (SMM) -- The US dollar index moved around 78 during the Chinese New Year holiday from Feb. 2nd to Feb. 8th. In response, LME zinc prices fluctuated at high levels and struggled at USD 2,500/mt. China’s central bank announced yesterday to further raise both one-year lending and deposit interest rate by 0.25% for financial institutions since Feb. 9th. In this context, LME zinc prices were weighed down, with prices finally closing at USD 2,500/mt yesterday, and were up 3.5% during the Chinese New Year holiday. Trading volumes were 65,195 lots, and total positions were 238,835 lots.

 

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