SMM Morning Review - 2012/2/24 Zinc Market

SMM Insight 09:39:40AM Feb 24, 2012 Source:SMM

SHANGHAI, Feb. 24 (SMM) – LME zinc prices overnight fluctuated between USD 2,050-2,080/mt as optimism over easing Greek debt crisis was absorbed. According to US Labor Department, the number of jobless claims for the week ending February 18th was better than forecasts. As a result, the US dollar index weakened while LME zinc prices climbed to close at USD 2,054.8/mt, down USD 7.3/mt. LME zinc inventories surged by 14,000 mt to 860,000 mt, reaching the level hit in August 2011. SHFE 1205 zinc contract prices should fluctuate between RMB 15,750-15,950/mt today, with spot discounts between RMB 300-400/mt.
 

Key Words:  LME zinc prices 

SMM Morning Review - 2012/2/24 Zinc Market

SMM Insight 09:39:40AM Feb 24, 2012 Source:SMM

SHANGHAI, Feb. 24 (SMM) – LME zinc prices overnight fluctuated between USD 2,050-2,080/mt as optimism over easing Greek debt crisis was absorbed. According to US Labor Department, the number of jobless claims for the week ending February 18th was better than forecasts. As a result, the US dollar index weakened while LME zinc prices climbed to close at USD 2,054.8/mt, down USD 7.3/mt. LME zinc inventories surged by 14,000 mt to 860,000 mt, reaching the level hit in August 2011. SHFE 1205 zinc contract prices should fluctuate between RMB 15,750-15,950/mt today, with spot discounts between RMB 300-400/mt.
 

Key Words:  LME zinc prices