SMM Morning Review - 2011/3/21 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2011/3/21 Zinc Market

SMM Insight 09:26:35AM Mar 21, 2011 Source:SMM

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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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


 

Key Words:  zinc Zn  

SMM Morning Review - 2011/3/21 Zinc Market

SMM Insight 09:26:35AM Mar 21, 2011 Source:SMM

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.

 

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


 

Key Words:  zinc Zn