SMM Morning Review - 2012/5/14 Zinc Market

May 14, 2012 10:14

As China's industry production, retail sales and fixed investment assets data was worse-than-expected, LME zinc prices dipped to USD 1,927/mt.

SHANGHAI, May 14 (SMM) – As China's industry production, retail sales and fixed investment assets data was worse-than-expected, LME zinc prices dipped to USD 1,927/mt. As US CCI was 77.8, higher than 76.2 expected, LME zinc prices rallied to close at USD 1,941.5/mt, down USD 16.5/mt. China's central bank announced last Saturday it would lower deposit reserve ration, so SHFE three-month zinc contract prices should open higher and move between RMB 15,200-15,400/mt, with spot discounts between RMB 120-170/mt.

LME zinc prices

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SMM Morning Review - 2012/5/14 Zinc Market

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