Metals News
[Zn] Weakness in Spot Market Remains
data analysis
01:16PM
Dec 7,2009
Source:SMM

SHANGHAI, Nov. 6 (CBI China) – Although zinc prices at both SHFE and LME dropped overnight, major domestic spot trading markets were still weak.  Traded price for 0# zinc in both Shanghai and Guangdong are RMB 9,200/mt. Interest rates announcement from European Central Bank (ECB) this evening will impact U.S. dollar and commodity markets in the short term. On zinc market, theoretically, current price at RMB 9000/mt will gradually drive zinc price return to its fundamentals, but production cut at smelters seemed no “shock” on the market. Perhaps in case of domestic zinc ingot inventory decreased gradually, such "production cut" "production suspension" may affect the market, which depends on consumption increase however.

 

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