Metals News
SMM Morning Review - 2011/3/21 Zinc Market
smm insight
Mar 21,2011

SHANGHAI, Mar. 21 (SMM)--The Japanese Fukujima nuclear plants was under control, and Libya declared a ceasefire to comply with a United Nations resolution. In this context, the US dollar index slid to 75.55 last Friday, pushing up LME zinc prices to rebound to the 10-day moving average, up USD 44.5/mt, with prices closing at USD 2,345/mt. But China's central bank announced to raise the deposit reserve ratio for the third time this year, weighing down LME zinc prices, meeting pressure at USD 2,500/mt.Trading volumes increased by 7,000 lots to 42,849 lots, and total positions increased by 5,000 lots to 2305,194 lots.


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