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.
Copyright © 2008, CBI (Shanghai) Co., Ltd. All Rights Reserved.
None of this material may be used for any commercial or public use in any form or means, without the prior written consent of CBI China. For reproduction issue, please contact us by email: firstname.lastname@example.org or tel:86-21-51550040