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SMM Morning Review - 2011/7/15 Zinc Market
Jul 15,2011 09:34CST
smm insight
Source:SMM
The US Federal Reserve Chairman Ben Bernanke testified during a senate hearing yesterday, saying the Fed did not have a third government bonds purchase or further economic stimulus plan.

SHANGHAI, Jul. 15 (SMM)--The US Federal Reserve Chairman Ben Bernanke testified during a senate hearing yesterday, saying the Fed did not have a third government bonds purchase or further economic stimulus plan. In this context, the US dollar index rallied to 75, and the US stocks fell in response. The Dow Jones Industrial Average fell 54.49 to close at 12,437.12. The Nasdaq Composite Index was down 34.25 to close at 2,764.00. LME zinc prices plummeted to close at USD 2,356/mt. SHFE 1109 zinc contract prices are expected to fluctuate between RMB 18,000-18,300/mt, with spot discounts narrowing to negative RMB 250-350/mt, and with transactions quiet.

 

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