SMM Morning Review - 2011/1/10 Zinc Market

SHANGHAI, Jan. 10 (SMM) – LME base metal prices were mixed on Monday. German export volume grew noticeably in November, a signal that German GDP for 4Q may be better than forecasts. In this context, LME zinc prices edged up and finally closed at USD 1,869.3/mt, up 12.3/mt. Trading volumes increased by 1,395 lots, to 6,959 lots, and positions increased by 893 lots to 268,612 lots. The market will remain cautious ahead of the released of China's CPI. SHFE 1203 zinc contract prices should move between RMB 14,550-14,850/mt today, with spot discounts between negative RMB 100-150/mt.