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SMM Morning Review - 2011/7/29 Zinc Market
Jul 29,2011 09:27CST
smm insight
Source:SMM
LME zinc prices overnight fluctuated at high levels.

SHANGHAI, Jul. 29 (SMM)--LME zinc prices overnight fluctuated at high levels. The US dollar index plummeted and rebounded to 74 due to ongoing US debt limit issue. According to data from the US Labor Department, the number of US jobless claims for the week ending July 23 was 390,800, lower than the forecast 415,000. As a result, LME zinc prices closed at USD 2,526/mt, up USD 12/mt. SHFE 1110 zinc contract prices are expected to move between RMB 18,900-19,100/mt today, with spot discounts expanding to negative RMB 550-650/mt.

 

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