SMM Morning Review - 2012/2/16 Zinc Market

SMM Insight 09:25:06AM Feb 16, 2012 Source:SMM

SHANGHAI, Feb. 16 (SMM) – The euro weakened against most other currencies, investors concerned whether the new bailout fund is enough to help resolve Greek debt problem, Eurogroup President said in a written statement that Greece was prepared for the EUR 130 billion of bailout loans, and eurozone finance ministers will make a decision about the bailout issue at the meeting to be held in Brussels next Monday. But the market was still cautious. In this context, LME zinc prices further plummeted to USD 2,004.3/mt, and rallied to close at USD 2,023/mt, down USD 17/mt. SHFE 1205 zinc contract prices should fall to move between RMB 15,700-16,000/mt today, with spot discounts between RMB 300-400/mt.
 

Key Words:  LME zinc prices 

SMM Morning Review - 2012/2/16 Zinc Market

SMM Insight 09:25:06AM Feb 16, 2012 Source:SMM

SHANGHAI, Feb. 16 (SMM) – The euro weakened against most other currencies, investors concerned whether the new bailout fund is enough to help resolve Greek debt problem, Eurogroup President said in a written statement that Greece was prepared for the EUR 130 billion of bailout loans, and eurozone finance ministers will make a decision about the bailout issue at the meeting to be held in Brussels next Monday. But the market was still cautious. In this context, LME zinc prices further plummeted to USD 2,004.3/mt, and rallied to close at USD 2,023/mt, down USD 17/mt. SHFE 1205 zinc contract prices should fall to move between RMB 15,700-16,000/mt today, with spot discounts between RMB 300-400/mt.
 

Key Words:  LME zinc prices