SMM Morning Review - 2011/8/25 Zinc Market

SHANGHAI, Aug. 25 (SMM)--LME zinc prices overnight stood at USD 2,200/mt in the morning session during Asian trading hours, but inched down later the day. Orders for US durable goods jumped 4% in July, much higher than forecasts, boosting LME zinc prices to rally, but with prices failing to gain back previous losses and finally closing at USD 2,173/mt, down USD 31/mt. Transactions were quiet as the market was waiting for results of the meeting by US Federal Reserve this Friday. SHFE three-month zinc contract prices should open lower today, moving between RMB 16,650-16,950/mt, and with discounts remaining at low levels.