SMM Morning Review - 2011/1/13 Zinc Market

SHANGHAI, Jan. 13 (SMM) – The number of US jobless claims was disappointing, but European Central Bank accounted it will maintain the 1% interest rate unchanged. The bank's president said it will take measures to help euro zone avoid economic recession. On the other hand, Italian and Spanish treasury bill auctions were successful, easing market concerns. As a result, LME zinc prices surged to USD 1,984.8/mt and finally closed at USD 1,967.8/mt, up USD 36.5/mt or 1.89%. Boosted by LME zinc prices overnight, SHFE 1203 zinc contract prices should rise slightly and move between RMB 15,050-15,350/mt today, with spot discounts between negative RMB 250-350/mt.