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Home / Metal News / SMM Morning Review - 2011/12/12 Zinc Market

SMM Morning Review - 2011/12/12 Zinc Market

Dec 12, 2011 09:28

Source:SMM

LME zinc prices last Friday inched down below USD 2,000/mt level in the afternoon.

SHANGHAI, Dec. 12 (SMM) – LME zinc prices last Friday inched down below USD 2,000/mt level in the afternoon. News that EU summit resulted in an financial agreement of 23 member countries to enhance financial accumulation and US CCI for December hitting a 6-month high boosted market confidence. In this context, LME zinc prices gained back intraday losses to close at USD 2,009.5/mt, up USD 11.5/mt. Trading volumes decreased by 120 lots to 7,386 lots, and total position decreased by 2,353 lots to 271,670 lots. The good news from EU summit boosted inventors buying interest. But as the market absorbed the good news, LME zinc prices should move between RMB 15,450-15,750/mt, with discounts between negative RMB 100-200/mt.

LME zinc prices

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