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SMM Morning Review - 2012/2/7 Zinc Market
Feb 7,2012 09:34
CSTsmm insight
Source:SMM
SMM predicts SHFE three-month zinc contract prices may fall slightly to between RMB 15,950-16,250/mt today, while spot discounts will remain between RMB 300-400/mt.
SHANGHAI, Feb. 7 (SMM) -- LME zinc prices remained high during Asian trading hours yesterday, with prices even hitting USD 2,166/mt. No results were achieved in Greek debt restructuring talks last night, and investors continued to lock in recent gains. The mounting market fears caused LME zinc prices to close down at USD 2,134/mt, down USD 3/mt.
The deadlocked Greek debt restructuring talks triggered market fears, and SMM predicts SHFE three-month zinc contract prices may fall slightly to between RMB 15,950-16,250/mt today, while spot discounts will remain between RMB 300-400/mt.
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