SMM Morning Review - 2012/2/10 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2012/2/10 Zinc Market

SMM Insight 09:22:20AM Feb 10, 2012 Source:SMM

SHANGHAI, Feb. 10 (SMM) – Major Greek political parties reached an agreement to cut spending and salary, causing market concerns to ease, so the euro against the US dollar rose to a two-month high. Besides, the number of first jobless claims for last week was fewer than expected, so the US dollar against most currencies weakened. As a result, LME zinc prices rose and finally closed at USD 2,153/mt, up USD 33/mt or 1.56%. Due to positive news overnight, SHFE three-month zinc contract prices should move between RMB 16,150-16,450/mt today, with spot discounts between RMB 350-450/mt.
 

Key Words:  LME zinc prices 

SMM Morning Review - 2012/2/10 Zinc Market

SMM Insight 09:22:20AM Feb 10, 2012 Source:SMM

SHANGHAI, Feb. 10 (SMM) – Major Greek political parties reached an agreement to cut spending and salary, causing market concerns to ease, so the euro against the US dollar rose to a two-month high. Besides, the number of first jobless claims for last week was fewer than expected, so the US dollar against most currencies weakened. As a result, LME zinc prices rose and finally closed at USD 2,153/mt, up USD 33/mt or 1.56%. Due to positive news overnight, SHFE three-month zinc contract prices should move between RMB 16,150-16,450/mt today, with spot discounts between RMB 350-450/mt.
 

Key Words:  LME zinc prices