SMM Morning Review - 2011/11/4 Zinc Market

Nov 4, 2011 10:09

LME zinc prices overnight plunged to as low as USD 1,890/mt, dragged down by SHFE zinc prices.

SHANGHAI, Nov. 4 (SMM) – LME zinc prices overnight plunged to as low as USD 1,890/mt, dragged down by SHFE zinc prices. European central bank unexpectedly announced it will cut interest rates by 25 basis points, to 1.25%, triggering speculations of further easing monetary policies. In this context, LME zinc prices gained back previous losses to close at USD 1,954.8/mt, up USD 26/mt. SHFE three-month zinc contract prices should open slightly higher today, moving between RMB 15,250-15,550/mt. Spot prices should fall RMB 0-50/mt lower than SHFE 1201 zinc contract prices.

LME zinc prices

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SMM Morning Review - 2011/11/4 Zinc Market

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