SMM Morning Review - 2011/1/17 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2011/1/17 Zinc Market

SMM Insight 09:20:04AM Jan 17, 2012 Source:SMM

SHANGHAI, Jan. 17 (SMM) – LME zinc prices overnight were pushed up by the falling US dollar index. Standard & Poor's downgraded long-term rating of European EFSF, so LME zinc prices fluctuated between USD 1,950-1,980/mt and finally closed at USD 1,955/mt, down USD 3.3/mt. Trading volumes decreased by 5,532 lots to 5,175 lots, and total position increased by 4,604 lots to 273,345 lots. China's GDP is going to be released today, and SHFE 1204 zinc contract prices should move between RMB 15,100-15,400/mt today, with spot discounts between negative RMB 250-350/mt.
 

Key Words:  LME zinc prices 

SMM Morning Review - 2011/1/17 Zinc Market

SMM Insight 09:20:04AM Jan 17, 2012 Source:SMM

SHANGHAI, Jan. 17 (SMM) – LME zinc prices overnight were pushed up by the falling US dollar index. Standard & Poor's downgraded long-term rating of European EFSF, so LME zinc prices fluctuated between USD 1,950-1,980/mt and finally closed at USD 1,955/mt, down USD 3.3/mt. Trading volumes decreased by 5,532 lots to 5,175 lots, and total position increased by 4,604 lots to 273,345 lots. China's GDP is going to be released today, and SHFE 1204 zinc contract prices should move between RMB 15,100-15,400/mt today, with spot discounts between negative RMB 250-350/mt.
 

Key Words:  LME zinc prices