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SMM Morning Review - 2012/2/6 Zinc Market
Feb 6,2012 09:21CST
smm insight
Source:SMM
SMM predicts SHFE three-month zinc contract prices may open higher to move between RMB 15,950-16,250/mt today.

SHANGHAI, Feb. 6 (SMM) -- LME zinc prices moved around USD 2,100/mt during Asian trading hours last Friday. Data shows that US unemployment rate in January was below expectations, non-farm payrolls in January increased by 243,000, also beating expectations. In response, LME zinc prices climbed to USD 2,154/mt and finally closed at USD 2,137/mt, up USD 50.3/mt or 2.41%.

SMM predicts SHFE three-month zinc contract prices may open higher to move between RMB 15,950-16,250/mt today given positive US non-farm payrolls, while spot discounts may expand further to RMB 350-450/mt over SHFE three-month zinc contract prices. 

 

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