SMM Morning Review - 2012/2/29 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2012/2/29 Zinc Market

SMM Insight 09:22:19AM Feb 29, 2012 Source:SMM

SHANGHAI, Feb. 29 (SMM) – LME zinc prices overnight edged up during Asian trading hours. According to the US Commerce Department, durable goods orders in the manufacturing industry fell 4.0% to USD 206.09 billion, the largest decline in three years. CCI in February rose to 70.8, the highest level after hitting 72.0 in February 2011. In this context, LME zinc prices surged to USD 2,137.5/mt and finally close at USD 2,118/mt, up USD 25.5/mt.SHFE 1205 zinc contract prices should rise to move between RMB 15,900-16,200/mt today, with spot discounts between RMB 350-450/mt.
 

Key Words:  LME zinc prices  

Price

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Gold(99.99%)
Apr.18
278.1
-1.5
(-0.54%)
Gold(99.95%)
Apr.18
278.6
-0.9
(-0.33%)
#1 Silver(99.99%)
Apr.18
3501.0
0.0
(0.00%)
Silver(99.95%)
Apr.18
3486.0
0.0
(0.00%)
Silver(99.90%)
Apr.18
3471.0
0.0
(0.00%)

SMM Morning Review - 2012/2/29 Zinc Market

SMM Insight 09:22:19AM Feb 29, 2012 Source:SMM

SHANGHAI, Feb. 29 (SMM) – LME zinc prices overnight edged up during Asian trading hours. According to the US Commerce Department, durable goods orders in the manufacturing industry fell 4.0% to USD 206.09 billion, the largest decline in three years. CCI in February rose to 70.8, the highest level after hitting 72.0 in February 2011. In this context, LME zinc prices surged to USD 2,137.5/mt and finally close at USD 2,118/mt, up USD 25.5/mt.SHFE 1205 zinc contract prices should rise to move between RMB 15,900-16,200/mt today, with spot discounts between RMB 350-450/mt.
 

Key Words:  LME zinc prices