Metals News
SMM Morning Review - 2011/3/16 Zinc Market
smm insight
09:29AM
Mar 16,2011
Source:SMM

SHANGHAI, Mar. 16 (SMM)--LME zinc prices overnight were weighed down to USD 2,266/mt on news of Japan's nuclear leakage. Later, Japanese economy and fiscal minister Yosano Kaoru said that the stock turmoil in Japan will ease soon and the stock market will begin to recover, with the Japanese government expected to buy stocks to support share prices. In this context, LME zinc prices closed with gains at USD 2,308/mt, up USD 52.5/mt, or up 2.33%, below the 5-day moving average. Trading volumes increased by 7,000 lots to 93,654 lots, and total positions decreased by 4,710 lots to 238,015 lots.

 

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