SMM Morning Review - 2011/3/11 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2011/3/11 Zinc Market

SMM Insight 09:18:10AM Mar 11, 2011 Source:SMM

SHANGHAI, Mar. 11 (SMM)--According to import and export data from China Customs yesterday, China's exports during February were up 2.4% YoY, and imports rose by 19.4% YoY. The export growth declined significantly from January, resulting in a trade deficit of USD 7.3 billion in February. Moreover, Moody's downgraded Spain's credit rating by one notch and warned of further cuts to come. In this context, the US dollar index overnight rebounded to 77. LME zinc prices once plummeted to USD 2,230/mt, then rallied to close at USD 2,286/mt, with transactions improving. Trading volumes increased by nearly 50,000 lots to 105,060 lots, and total positions decreased slightly by 789 lots to 243,634 lots.

 

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None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn


 

SMM Morning Review - 2011/3/11 Zinc Market

SMM Insight 09:18:10AM Mar 11, 2011 Source:SMM

SHANGHAI, Mar. 11 (SMM)--According to import and export data from China Customs yesterday, China's exports during February were up 2.4% YoY, and imports rose by 19.4% YoY. The export growth declined significantly from January, resulting in a trade deficit of USD 7.3 billion in February. Moreover, Moody's downgraded Spain's credit rating by one notch and warned of further cuts to come. In this context, the US dollar index overnight rebounded to 77. LME zinc prices once plummeted to USD 2,230/mt, then rallied to close at USD 2,286/mt, with transactions improving. Trading volumes increased by nearly 50,000 lots to 105,060 lots, and total positions decreased slightly by 789 lots to 243,634 lots.

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn