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SMM Morning Review - 2012/3/20 Zinc Market
Mar 20,2012 09:13
CSTsmm insight
Source:SMM
SMM predicts SHFE three-month zinc contract prices will climb slightly to RMB 15,700-15,950/mt today, while spot discounts will hover between RMB 300-400/mt.
SHANGHAI, Mar. 20 (SMM) -- LME zinc prices dipped to as low as USD 2,058.3/mt during Asian trading hours yesterday. The US National Association of Home Builders said yesterday that its housing market index rose to near 5-year high in March. The US dollar index lost previous gain, helping boost LME zinc prices, with prices gradually returning to near 5-day moving average and finally closing at USD 2,084/mt, up USD 9/mt.
SMM predicts SHFE three-month zinc contract prices will climb slightly to RMB 15,700-15,950/mt today, while spot discounts will hover between RMB 300-400/mt.
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