SMM Morning Review - 2011/2/25 Zinc Market

SHANGHAI, Feb. 25 (SMM)--The US preliminary jobless claims for the week ending February 19th were down more than forecast, while the new home sales for January significantly fell by 12.6%, with an estimated decline of 8.8%. But the market was still concentrated on the unrest in Lybia, so that market players chose to be cautious till chaos ends. The US dollar index overnight slid to 77.01 from 77.3, but failing to boost LME zinc prices. LME zinc prices overnight fell by USD 11.8/mt to close at USD 2,455/mt, with prices falling below the 30-day moving average. Trading volumes decreased by over 10,000 lots to 41,695 lots, and total positions decreased by over 5,000 lots to 237,028 lots.

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