SMM Morning Review - 2011/8/30 Zinc Market

SHANGHAI, Aug. 30 (SMM) -- The LME market was closed on Monday. Strong growth of consumer spending in the US eased market cautious sentiment and boosted US stocks to close up. In addition, Greece's second and third-largest lenders, Eurobank and Alpha Bank, announced on Monday they would merge, and the combined bank will strengthen capital by 2 billion euros, which helped boost European stocks to close up as well. SMM predicts SHFE 1111 zinc contract prices will continue to fluctuate between RMB 17,000-17,300/mt on Tuesday, and spot discounts over SHFE 1110 zinc contract prices will likely rise to negative RMB 80-150/mt given sluggish trading sentiment.