SMM Morning Review – 2012/2/8 Zinc Market-Shanghai Metals Market

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SMM Morning Review – 2012/2/8 Zinc Market

SMM Insight 09:07:27AM Feb 08, 2012 Source:SMM

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.
 

Price

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1# Zinc
Apr.19
21820.0
-40.0
(-0.18%)
0# Zinc
Apr.19
21890.0
-40.0
(-0.18%)
T/C for domestic zinc concentrate
Apr.01
6350.0
200.0
(3.25%)
T/C for imported zinc concentrate
Apr.01
240.0
5.0
(2.13%)
Zinc Alloy (Zamak3/ZX01)
Apr.19
22790.0
-40.0
(-0.18%)

SMM Morning Review – 2012/2/8 Zinc Market

SMM Insight 09:07:27AM Feb 08, 2012 Source:SMM

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.