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Home / Metal News / SMM Morning Review - 2011/3/4 Zinc Market

SMM Morning Review - 2011/3/4 Zinc Market

Mar 4, 2011 09:05

Source:SMM

SHANGHAI, Mar. 4 (SMM)--The US initial jobless claims for the week ending February 26th fell by 20,000 to 368,000, the lowest level since May 2008.Meanwhile, crude oil future contract prices fell, a signal that Lybia unrest eased. In this context, the Dow Jones Industrial Average overnight was up 191.40 to 11,258.2, and the Nasdaq Composite Index rose by 50.67 to 2,798.74, boosting LME zinc prices to close at USD 2,480/mt, down USD 6/mt, with prices below the 20-day moving average. Trading volumes increased by over 6,000 lots to 44,734 lots, and total positions increased by over 5,000 lots to 238,288 lots.

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