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SMM Morning Review - 2011/2/9 Zinc Market
Feb 9,2011 10:40CST
smm insight
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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