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SMM Morning Review - 2011/2/10 Zinc Market
Feb 10,2011 10:11CST
smm insight
Source:SMM

SHANGHAI, Feb. 10 (SMM)--The US dollar index moved between 77.5 and 78 yesterday, but LME zinc prices found resistance at USD 2,500/mt. China’s central bank announced interest rate hike in the early of 2011, implying the government is determined to curb inflation. In this context, LME zinc prices overnight fell USD 20/mt, and finally closed at USD 2,480/mt below the 5-day moving average. Transactions improved upon the return of China from Chinese New Year holiday. Trading volumes increased by nearly 20,000 lots to 81,460 lots, and total positions increased by 38 lots to 238,873 lots.

 

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