SMM Morning Review - 2012/2/9 Zinc Market

SHANGHAI, Feb. 9 (SMM) – LME zinc prices overnight surged to touch an intraday high USD 2,150/mt. It is still obscure if Greek government can gain political support, while the government failed to reach any agreement with private creditors, causing market optimism to fade. In this context, LME zinc prices rolled back previous gains and finally closed at USD 2,120/mt, down USD 1/mt. China's major economic data is going to be released today, and SHFE three-month  zinc contract prices should move between RMB 15,900-16,200/mt today, with spot discounts between RMB 320-420/mt.