Home / Metal News / Copper / SMM Morning Review - 2011/9/27 Zinc Market
SMM Morning Review - 2011/9/27 Zinc Market
Sep 27,2011 09:45CST
price review forecast
Source:SMM
SMM predicts SHFE zinc prices may rebound to near RMB 15,000/mt today, moving between RMB 14,750-15,050/mt.

SHANGHAI, Sept. 27 (SMM) -- The US dollar index strengthened during Asian trading hours yesterday, causing LME zinc prices to dip to a new low of USD 1,821/mt. Later, weakened US dollar index helped support LME zinc prices to reverse previous losses. Rumors report that the European Central Bank (ECB) may discuss the resumption of purchases of collateral bonds and other measures, as well as the injection of liquidity into European commercial banks. Another report indicates that there is growing possibility that the ECB will cut interest rates in October. Positive news tempered market sentiment, and US stocks closed up in response, helping boost LME zinc prices. As a result, LME zinc prices closed at USD 1,885/mt, down USD 21/mt. SMM predicts SHFE zinc prices may rebound to near RMB 15,000/mt today, moving between RMB 14,750-15,050/mt, while spot discounts should be negative RMB 50-0/mt against SHFE 1112 zinc contract prices. 
 
 

zinc Zn

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn