SMM Morning Review - 2012/4/19 Zinc Market

Apr 19, 2012 09:57

LME zinc prices overnight rallied to the USD 2,000/mt mark.

SHANGHAI, Apr. 19 (SMM) – LME zinc prices overnight rallied to the USD 2,000/mt mark. But Spanish equity markets closed down 4%, with bad loans of banks reaching a 18-year high, and the IMF warned eurozone banks will need to sell USD 3.8 trillion of assets due to tightening credit in Europe, causing market concerns to improve. As a result, LME zinc prices inched down and rolled back previous gains, and closed at USD 1,987.5/mt, down USD 12.5/mt. SHFE three-month zinc contract prices should move between RMB 15,300-15,500/mt today, with spot discounts between RMB 200-300/mt.

LME zinc prices

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SMM Morning Review - 2012/4/19 Zinc Market

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