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SMM Morning Review - 2012/3/21 Zinc Market
Mar 21,2012 09:24CST
smm insight
Source:SMM
LME zinc prices overnight moved between USD 2,065-2,075/mt during Asian trading hours.

SHANGHAI, Mar. 21 (SMM) – LME zinc prices overnight moved between USD 2,065-2,075/mt during Asian trading hours. Due to mixed US housing data as well as US Federal Reserve Chairman saying he was concerned with future economy, the US dollar index rose, pushing down LME zinc prices to an intraday low USD 2,031/mt, with prices finally closing at USD 2044.5/mt, down USD 39.5/mt or 1.9%.Dragged down by LME zinc prices overnight, SHFE 1206 zinc contract prices should open lower and find support at RMB 15,600/mt today but meet resistance at RMB 15,900/mt, with spot discounts narrowing to RMB 250-350/mt.
 

LME zinc prices

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