Metals News
SMM Morning Review - 2011/3/30 Zinc Market
smm insight
09:58AM
Mar 30,2011
Source:SMM

SHANGHAI, Mar. 30 (SMM)--According to data released on Tuesday, US CCI for March was 63.4, lower than February’s 72. The lower-than-forecast CCI has eased concerns over the US Federal Reserve (Fed)’s tightening monetary policies. In this context, the Dow Jones Industrial Average overnight rose 81.13 to close at 12,279.01; the Nasdaq Composite Index rose 26.21 to close at 2,756.89, driving up LME zinc prices overnight to stabilize at the 10-day moving average, with prices finally closing at USD 2,347/mt, up USD 8/mt. Trading volumes increased by 5,000 lots to 56,536 lots, and total positions decreased slightly by 1,000 lots to 231,262 lots.

 

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