SMM Morning Review - 2011/3/28 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2011/3/28 Zinc Market

SMM Insight 09:38:23AM 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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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 price   zinc Zn  

SMM Morning Review - 2011/3/28 Zinc Market

SMM Insight 09:38:23AM 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.

 

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 price   zinc Zn