SHANGHAI, Jul. 22 (SMM)--China’s HSBC PMI for June was 48.9, the lowest in 28 months. In this context, LME zinc prices overnight plunged to USD 2,430/mt. According to the EU summit draft, EU rescue fund will provide loans to Greece, Ireland and Portugal at a lower interest rate and for longer maturities, dragging down the US dollar index to 74. LME zinc prices rallied to close at USD 2,448/mt, down USD 8/mt. SHFE 1110 zinc contract prices are expected to move between RMB 18,450-18,750/mt today.
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