SMM Morning Review - 2012/5/10 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2012/5/10 Zinc Market

SMM Insight 10:00:22AM May 10, 2012 Source:SMM

SHANGHAI, May 10 (SMM) – Due to concerns over Greece's political situation and surging government bonds yields in Spain and Greece, the US dollar index surged to break through 80. As a result, LME zinc prices overnight dipped to USD 1,925.8/mt. At the end of trading, news that Greece will receive EUR 4.2 billion of bailout funds on Thursday caused concerns to ease, so LME zinc prices gained back some losses and closed at USD 1,956/mt, down USD 20.5/mt. Dragged down by LME zinc prices overnight, SHFE three-month zinc contract prices should fall to RMB 15,200-15,400/mt, and spot discounts should narrow to RMB 80-150/mt.
 

Key Words:  LME zinc prices 

SMM Morning Review - 2012/5/10 Zinc Market

SMM Insight 10:00:22AM May 10, 2012 Source:SMM

SHANGHAI, May 10 (SMM) – Due to concerns over Greece's political situation and surging government bonds yields in Spain and Greece, the US dollar index surged to break through 80. As a result, LME zinc prices overnight dipped to USD 1,925.8/mt. At the end of trading, news that Greece will receive EUR 4.2 billion of bailout funds on Thursday caused concerns to ease, so LME zinc prices gained back some losses and closed at USD 1,956/mt, down USD 20.5/mt. Dragged down by LME zinc prices overnight, SHFE three-month zinc contract prices should fall to RMB 15,200-15,400/mt, and spot discounts should narrow to RMB 80-150/mt.
 

Key Words:  LME zinc prices