SMM Morning Review - 2011/8/18 Zinc Market

Aug 18, 2011 09:39

LME zinc prices overnight failed to break through USD 2,200/mt level during Asian trading hours.

SHANGHAI, Aug. 18 (SMM)--LME zinc prices overnight failed to break through USD 2,200/mt level during Asian trading hours. The US dollar index weakened to 74, and US retailers reported surprisingly strong quarterly results, causing risk appetite to improve. As a result, LME zinc prices finally broke through USD 2,200/mt and closed at USD 2,213/mt, up USD 34/mt. SHFE three-month zinc contract prices should try to stabilize at RMB 17,000/mt today, moving between RMB 16,800-17,100/mt, and with discounts between negative RMB 200-250/mt. Downstream buying interest should be lower.

LME zinc prices

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SMM Morning Review - 2011/8/18 Zinc Market

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