SMM Morning Review - 2012/3/23 Zinc Market

Mar 23, 2012 09:41

The US dollar index surged to 79.83, pushing down LME zinc prices to USD 1,978/mt, with prices closing at USD 1,944.5/mt.

SHANGHAI, Mar. 23 (SMM) – LME zinc prices overnight weakened as HSBC China's CPI for March unexpectedly fell, while concerns improved as eurozone comprehensive PMI dropped from 49.3 in February, to 48.7. The US dollar index surged to 79.83, pushing down LME zinc prices to USD 1,978/mt, with prices closing at USD 1,944.5/mt, down USD 37.5/mt, or 1.85%.LME zinc inventories further grew to 890,000 mt. SHFE 1206 zinc contract prices should fall to move between RMB 15,450-15,650/mt today, with spot discounts narrowing to RMB 150-250/mt.

LME zinc prices

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SMM Morning Review - 2012/3/23 Zinc Market

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