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Home / Metal News / SMM Morning Review - 2012/2/3 Zinc Market

SMM Morning Review - 2012/2/3 Zinc Market

Feb 3, 2012 09:32

Source:SMM

SMM predicts weak LME zinc prices last night will depress today’s SHFE zinc prices, expecting SHFE three-month zinc contract prices will move between RMB 15,600-15,900/mt.

SHANGHAI, Feb. 3 (SMM) -- Markets remained cautious before the release of US non-farm payrolls due Friday. US data shows that initial jobless claims last week decreased by 12,000, to 367,000, slightly better than market expectations. LME zinc prices fell slightly below USD 2,100/mt last night and finally closed at USD 2,086.8/mt, down USD 30.8/mt.

SMM predicts weak LME zinc prices last night will depress today’s SHFE zinc prices, expecting SHFE three-month zinc contract prices will move between RMB 15,600-15,900/mt, while spot discounts are expected to remain between RMB 250-350/mt.

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