SMM Morning Review - 2011/9/8 Zinc Market

Sep 8, 2011 09:35

LME zinc prices overnight edged up to USD 2,200/mt during Asian trading hours due to the weakened US dollar index.

SHANGHAI, Sept. 8 (SMM)--LME zinc prices overnight edged up to USD 2,200/mt during Asian trading hours due to the weakened US dollar index. Rumors that US President Obama plans to invest USD 300 billion to create jobs boosted investors’ risk appetite, and US stocks closed with gains, with the Down Jones Industrial Average up 275.56, or up 2.47%. In this context, LME zinc prices rose further to close at USD 2,241/mt, up USD 41/mt. SHFE three-month zinc contract prices should open slightly higher today, moving between RMB 16,900-17,200/mt, with discounts against SHFE three-month zinc contract prices expanding to negative RMB 150-250/mt. Downstream buying interest should improve due to a rise of consecutive days.

LME zinc prices

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SMM Morning Review - 2011/9/8 Zinc Market

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