SMM Morning Review - 2011/10/12 Zinc Market

SHANGHAI, Oct. 12 (SMM) – Due to concerns that the expansion plan of European bailout fund would fail, LME zinc prices inched down as of the midday, dipping to USD 1,880/mt, despite the US dollar index generally moved between 77.4-77.9. At the end of trading, LME zinc prices closed at USD 1,910/mt, down USD 39/mt. Slovakia voted down the expansion of European bailout fund after European trading hours. SHFE three-month zinc contract prices should open lower today, falling to RMB 15,000/mt, with spot prices RMB 0-50/mt lower or RMB 0-50/mt higher than SHFE 1112 zinc contract prices.