SHANGHAI, Feb 8 (SMM) – From earlier Asian trading hours, LME zinc prices dropped, and extended the falling trend during European trading hours, down as low as USD 2,095/mt after sliding below USD 2,100/mt. Later, LME zinc prices erased some earlier losses at the tail of trading along with positive news from Greek debt negotiations. Finally, LME zinc prices closed at USD 2,121/mt, down USD 13/mt.
Now, market players are cautious as the final result of Greek debt negotiations remains unknown. SHFE three-month zinc prices are expected to hover between RMB 15,900-16,200/mt on Wednesday, with spot discounts to narrow slightly to RMB 250-350/mt.