SMM Morning Review - 2012/2/13 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2012/2/13 Zinc Market

SMM Insight 09:47:35AM Feb 13, 2012 Source:SMM

SHANGHAI, Feb. 13 (SMM) – Market concerns improved last Friday as finance ministers of the Euro zone did not approve the second bailout plan for Greece, while Standard & Poor's announced it would cut ratings of 34 financial institutions of which headquarters are located in Italy. As a result, investors left the market with profit-taking, pushing down LME zinc prices overnight below USD 2,100/mt, with prices finally closing at USD 2,090/mt, down USD 63/mt. Eurozone finance ministers passed the vote to the bailout plan for Greece on the morning of Monday, so SHFE three-month zinc contract prices should move between RMB 15,850-16,150/mt today, with spot discounts between RMB 300-400/mt.
 

Key Words:  LME zinc prices  

Price

more
#1 Lead
Apr.23
16575.0
-25.0
(-0.15%)
T/C for domestic lead concentrate
Apr.01
1850.0
0.0
(0.00%)
T/C for imported lead concentrate
Apr.01
27.5
0.0
(0.00%)
#2 Lead
Apr.23
16475.0
-50.0
(-0.30%)
Secondary Lead
Apr.23
16125.0
0.0
(0.00%)

SMM Morning Review - 2012/2/13 Zinc Market

SMM Insight 09:47:35AM Feb 13, 2012 Source:SMM

SHANGHAI, Feb. 13 (SMM) – Market concerns improved last Friday as finance ministers of the Euro zone did not approve the second bailout plan for Greece, while Standard & Poor's announced it would cut ratings of 34 financial institutions of which headquarters are located in Italy. As a result, investors left the market with profit-taking, pushing down LME zinc prices overnight below USD 2,100/mt, with prices finally closing at USD 2,090/mt, down USD 63/mt. Eurozone finance ministers passed the vote to the bailout plan for Greece on the morning of Monday, so SHFE three-month zinc contract prices should move between RMB 15,850-16,150/mt today, with spot discounts between RMB 300-400/mt.
 

Key Words:  LME zinc prices