SMM Morning Review - 2011/9/23 Zinc Market

Sep 23, 2011 10:05

LME base metal prices plummeted by over 4% yesterday.

SHANGHAI, Sept. 23 (SMM)--LME base metal prices plummeted by over 4% yesterday. Due to worse-than-expected HSBC China’s PMI and weakened PMI in Germany and France, investors concerned the economy will recess, pushing up the US dollar index. As a result, LME zinc prices dipped to USD 1,987/mt, although rallied slightly, prices finally closed at USD 1,995/mt, down USD 90/mt. SHFE 1112 zinc contract prices should open lower, fluctuating between RMB 15,500-15,900/mt. Spot prices should be close to SHFE 1112 zinc contract prices.

LME zinc prices

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SMM Morning Review - 2011/9/23 Zinc Market

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