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SMM Morning Review - 2011/2/28 Zinc Market
Feb 28,2011 09:10CST
smm insight
Source:SMM

SHANGHAI, Feb. 28 (SMM)--Last Friday, crude oil futures contract prices were up 60 cent per barrel to close at USD 97.88 per barrel, up 0.6%. Fears of crude oil shortages eased since crude oil futures contract prices tend to stabilize. The Dow Jones Industrial Average was up 61.95 to close at 12,130.45, and the Nasdaq Composite Index was up 43.15 to close at 2,781.05. The US dollar index rallied to between 76.9 and 77.3, and LME zinc prices found support at the 20-day moving average, with prices closing at USD 2,487/mt, up USD 32.3. Trading volumes decreased by over 6,000 lots to 35,001 lots, and total positions decreased by over 3,000 lots to 234,186 lots.

 

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