SMM Morning Review – 2012/5/15 Zinc Market-Shanghai Metals Market

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SMM Morning Review – 2012/5/15 Zinc Market

SMM Insight 10:17:04AM May 15, 2012 Source:SMM

Shanghai, May 15 (SMM) – Market concerns over the Greek debt issues accelerated. European leaders warned Greece that it could not remain in the euro zone, if it fails to stick to its debt rescue deal. Besides, the euro-zone industrial output fell unexpectedly in March by 0.3%, verifying market worries over economic activities in the region. In this context, LME zinc prices tumbled, pointing to USD 1,900/mt, and finally ended at USD 1,917.8/mt, down USD 23.8/mt.

Depressed by plunging LME zinc market overnight, SHFE zinc market will be negatively affected on Tuesday, with prices expected between RMB 14,950-15,150/mt, and spot discounts will remain RMB 50-100/mt.
 

SMM Morning Review – 2012/5/15 Zinc Market

SMM Insight 10:17:04AM May 15, 2012 Source:SMM

Shanghai, May 15 (SMM) – Market concerns over the Greek debt issues accelerated. European leaders warned Greece that it could not remain in the euro zone, if it fails to stick to its debt rescue deal. Besides, the euro-zone industrial output fell unexpectedly in March by 0.3%, verifying market worries over economic activities in the region. In this context, LME zinc prices tumbled, pointing to USD 1,900/mt, and finally ended at USD 1,917.8/mt, down USD 23.8/mt.

Depressed by plunging LME zinc market overnight, SHFE zinc market will be negatively affected on Tuesday, with prices expected between RMB 14,950-15,150/mt, and spot discounts will remain RMB 50-100/mt.