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Home / Metal News / SMM Morning Review - 2011/11/23 Zinc Market

SMM Morning Review - 2011/11/23 Zinc Market

Nov 23, 2011 09:49

Source:SMM

LME zinc prices overnight moved between USD 1,920-1,940/mt during Asian trading hours.

SHANGHAI, Nov. 23 (SMM) – LME zinc prices overnight moved between USD 1,920-1,940/mt during Asian trading hours. Rating agencies said they will not cut US credit rating even if US Congress fails to reach an agreement on the deficit cut issue, easing the market. As a result, the US dollar index weakened, boosting LME zinc prices to rise and close at USD 1,950/mt, up USD 35/mt. Trading volumes decreased by 1,707 lots to 6,488 lots, and total position decreased by 772 lots to 277,905 lots. Inventories fell by 1,425 mt, to 745,000 mt.

LME zinc prices

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