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SMM Morning Review - 2011/2/17 Zinc Market
Feb 17,2011 09:23CST
smm insight
Source:SMM

SHANGHAI, Feb. 17 (SMM)--The US dollar index overnight fell from 78.7 to 78.2. The US Core Producer Price for January rose 0.5% from the previous month, and up 1.6% YoY, the highest level in the past two years, accelerating speculations of additional tightening monetary policies. In this context, LME zinc prices overnight rose by USD 15/mt and finally closed at USD 2,490/mt. Trading volumes decreased by over 7,000 lots to 59,439 lots, and total positions increased by nearly 10,000 lots to 265,973 lots. Positions of SHFE 1105 zinc contracts increased by over 10,000 lots within an hour in the afternoon, pushing up SHFE zinc prices. SHFE zinc prices are expected to continue to rise today.

 

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