Metals News
SMM Morning Review - 2011/3/28 Zinc Market
smm insight
09:38AM
Mar 28,2011
Source:SMM

SHANGHAI, Mar. 28 (SMM)--Fitch Ratings cut Portugal’s sovereign debt rating by two notch to A- last week, a signal of improving liquidity crisis of this country. The US CCI for March dropped to 67.5, lower than the forecast, and decreases of Germany’s business confidence index for February were lower than the forecast, a signal of slowdown growth of the largest European economy. In this context, the US dollar index rose to 76.2 last Friday, up from 75.7, and LME zinc prices failed to break through USD 2,400/mt level, with prices finally closing at USD 2,398/mt. Trading volumes decreased by 1,300 lots to 44,286 lots, and total positions increased by 1,000 lots to 233,620 lots.

 

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