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

SMM Morning Review - 2011/11/11 Zinc Market

Nov 11, 2011 09:24

Source:SMM

LME zinc prices overnight fell to fluctuate between USD 1,859-1,890/mt tracking SHFE zinc prices.

SHANGHAI, Nov. 11 (SMM) – LME zinc prices overnight fell to fluctuate between USD 1,859-1,890/mt tracking SHFE zinc prices. The vice president of European Central Bank was named as Italy's prime minister, helping ease market concerns, and Italy's government bonds yields dropped, while the number of US jobless claims for the week fell to a 7-month low. As a result, the US dollar index dipped to 77.4, pushing up LME zinc prices to close at USD 1,890/mt. LME zinc prices should fluctuate between USD 1,850-1,900/mt today. SHFE three-month zinc contract prices should move between RMB 14,550-14,850/mt, with spot prices RMB 50-150/mt higher than SHFE 1201 zinc contract prices.

LME zinc prices

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