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Home / Metal News / SMM Morning Review - 2012/3/13 Zinc Market

SMM Morning Review - 2012/3/13 Zinc Market

Mar 13, 2012 09:17

Source:SMM

SMM predicts SHFE three-month zinc contract prices may climb to RMB 15,650-15,950/mt today, while spot discounts will hover between RMB 300-400/mt.

SHANGHAI, Mar. 13 (SMM) -- Markets gradually absorbed the effect of positive US nonfarm employment data yesterday, and LME zinc prices slipped continuously to find support at the 5-day moving average during Asian trading hours, but later LME zinc prices were boosted by market buying, with prices finally closing at USD 2,077/mt, down USD 3/mt.

SMM predicts SHFE three-month zinc contract prices may climb to RMB 15,650-15,950/mt today, while spot discounts will hover between RMB 300-400/mt against SHFE three-month zinc contract prices.

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