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Home / Metal News / SMM Morning Review - 2011/3/14 Zinc Market

SMM Morning Review - 2011/3/14 Zinc Market

Mar 14, 2011 09:30

SHANGHAI, Mar. 14 (SMM)--Last Friday, a tsunami was caused by a huge 9-magnitude earthquake in Japan, which damaged power plants, refineries and ports. Meanwhile, China post a higher-than-forecast inflation of 4.9% for February, developing speculations that China will take tightening monetary policies, and which is expected to curb demand for industrial base metals. LME zinc prices fluctuated at low levels last Friday, with prices once dipping to USD 2,248/mt, but closed with gains at USD 2,276/mt, down USD 10/mt. Trading volumes increased by 50,000 lots to 54,365 lots, and total positions increased by 760 lots to 244,394 lots.

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