Metals News
SMM Morning Review - 2011/3/25 Zinc Market
smm insight
09:21AM
Mar 25,2011
Source:SMM

SHANGHAI, Mar. 25 (SMM)--According to the US Commerce Department yesterday, the US durable goods orders fell 0.9% in February, the largest decline in the past four months, while the previous estimate of a 1.1% increase. But the US jobless claims for the week ending March 19th fell to 382,000, compared to a forecast of 383,000, boosting LME zinc prices to rise further. Finally, LME zinc prices closed at USD 2,390/mt, up USD 40/mt, or up 1.7%, above the 20-day moving average. Trading volumes decreased by 16,000 lots to 57,159 lots, and total positions increased by 1,000 lots to 232,421 lots. SHFE 1106 zinc contract prices are expected to touch RMB 19,000/mt today.

 

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