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SMM Morning Review - 2012/2/28 Zinc Market
Feb 28,2012 09:37CST
smm insight
Source:SMM
SMM predicts SHFE three-month zinc contract prices will try to break through RMB 16,000/mt today, with prices expected to hover between RMB 15,850-16,050/mt.

SHANGHAI, Feb. 28 (SMM) -- LME zinc prices fluctuated between USD 2,060-2,080/mt during Asian trading hours yesterday. Data shows that US pending home sales rose to their highest level in 21 months, and the pending home sales index increased by 2% to 97.0. Positive US home data pushed up LME zinc prices to break through USD 2,100/mt, with LME zinc prices finally closing at USD 2,092.5/mt, up USD 15/mt.  

SMM predicts SHFE three-month zinc contract prices will try to break through RMB 16,000/mt today, with prices expected to hover between RMB 15,850-16,050/mt, while spot discounts will expand slightly to RMB 330-430/mt.

 

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