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.
For queries, please contact Michael Jiang at michaeljiang@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn