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SMM Morning Review - 2011/12/21 Zinc Market
Dec 21,2011 10:00CST
smm insight
Source:SMM
LME zinc prices overnight generally moved between USD 1,840-1,870/mt, and dipped to USD 1,842/mt in the midday during Asian trading hours.

SHANGHAI, Dec. 21 (SMM) – LME zinc prices overnight generally moved between USD 1,840-1,870/mt, and dipped to USD 1,842/mt in the midday during Asian trading hours. US housing starts in November surged to 9.3%, hitting a 19-month high, while construction permits will also rise. Meanwhile, Spain successfully issued EUR 5 billion of short-term treasury bills, with borrowing costs down from government bonds auction last month, boosting investors' confidence. In this context, LME zinc prices closed at USD 1,873.5/mt, up USD 25.5/mt. LME inventories surged by over 40,000 mt to 800,000/mt, as spot discounts narrowed to USD 1/mt. SHFE 1203 zinc contract prices should move between RMB 14,600-14,900/mt to move between RMB 14,700-15,000/mt, with spot discounts between negative RMB 50-150/mt.
 

LME zinc prices

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