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Home / Metal News / SMM Morning Review - 2011/8/11 Zinc Market

SMM Morning Review - 2011/8/11 Zinc Market

Aug 11, 2011 09:40

Source:SMM

LME zinc prices overnight generally moved between USD 2,150-2,180/mt during the day. As European stocks closed the day with sharp declines

SHANGHAI, Aug. 11 (SMM)--LME zinc prices overnight generally moved between USD 2,150-2,180/mt during the day. As European stocks closed the day with sharp declines, and as investors concerns that French credit rating will be downgraded, banking sector stocks slumped, pushing up the US dollar index to 75. LME zinc prices plummeted to USD 2,100/mt, and finally closed at USD 2,125/mt. SHFE 1110 zinc contract prices are expected to open lower today, and move between RMB 16,450-16,750/mt as market concerns eased as Standard & Poor’s and Moody’s said they will not downgrade French credit ratings.

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