SMM Morning Review - 2012/5/11 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2012/5/11 Zinc Market

SMM Insight 09:16:21AM May 11, 2012 Source:SMM

SHANGHAI, May 11 (SMM) – The number of US jobless claims for the week ending May 5th decreased, with declines larger than forecast. Besides, Greece is expected to build a coalition government, boosting market confidence. In this context, the Stoxx Europe 600 Index rose by 0.6%. LME zinc prices overnight rebounded from an intraday low USD 1,933.8/mt, and finally closed at USD 1,958/mt, up USD 2/mt. SHFE three-month zinc contract prices should move between RMB 15,250-15,450/mt, and spot discounts remaining between RMB 100-150/mt.
 

Key Words:  LME zinc prices 

SMM Morning Review - 2012/5/11 Zinc Market

SMM Insight 09:16:21AM May 11, 2012 Source:SMM

SHANGHAI, May 11 (SMM) – The number of US jobless claims for the week ending May 5th decreased, with declines larger than forecast. Besides, Greece is expected to build a coalition government, boosting market confidence. In this context, the Stoxx Europe 600 Index rose by 0.6%. LME zinc prices overnight rebounded from an intraday low USD 1,933.8/mt, and finally closed at USD 1,958/mt, up USD 2/mt. SHFE three-month zinc contract prices should move between RMB 15,250-15,450/mt, and spot discounts remaining between RMB 100-150/mt.
 

Key Words:  LME zinc prices