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SMM Morning Review - 2012/2/3 Zinc Market
Feb 3,2012 09:32CST
smm insight
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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