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Home / Metal News / SMM Morning Review - 2011/11/8 Zinc Market

SMM Morning Review - 2011/11/8 Zinc Market

Nov 8, 2011 09:23

Source:SMM

SMM predicts SHFE three-month zinc contract prices will move between RMB 15,250-15,550/mt on Tuesday.

SHANGHAI, Nov. 8 (SMM) -- Yesterday, LME zinc prices slipped gradually during Asian trading hours due to strengthening US dollar index, with prices dipping further to as low as USD 1,912/mt as Italian debt issue prompted investors to sell off risky assets. Later, LME zinc prices reversed previous losses supported by some buying, with prices finally closing at USD 1,958/mt, up USD 9.5/mt. Markets are still eyeing the progress in resolving European debt crisis. SMM predicts SHFE three-month zinc contract prices will move between RMB 15,250-15,550/mt, and spot discounts against SHFE 1201 zinc contract prices will remain between negative RMB 50/mt and positive RMB 50/mt on Tuesday.

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