Metals News
SMM Morning Review - 2011/3/11 Zinc Market
smm insight
09:18AM
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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