SMM Morning Review - 2012/5/24 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2012/5/24 Zinc Market

SMM Insight 10:32:16AM May 24, 2012 Source:SMM

SHANGHAI, May 24 (SMM) – LME zinc prices overnight fell below USD 1,900/mt during Asian trading hours as the Shanghai Composite Index plunged, but then moved between USD 1,876-1,886/mt. The EU failed to achieve substantive results, so the US dollar index surged to 82. As a result, LME zinc prices plummeted to USD 1,861/mt and finally closed at USD 1,871/mt. Trading volumes increased by 3,244 lots to 9,979 lots, and total position increased by 6,962 lots to 273,968 lots. SHFE three-month zinc contract prices should move between RMB 14,550-14,750/mt today, with spot discounts narrowing to RMB 0-30/mt.
 

Key Words:  LME zinc prices 

SMM Morning Review - 2012/5/24 Zinc Market

SMM Insight 10:32:16AM May 24, 2012 Source:SMM

SHANGHAI, May 24 (SMM) – LME zinc prices overnight fell below USD 1,900/mt during Asian trading hours as the Shanghai Composite Index plunged, but then moved between USD 1,876-1,886/mt. The EU failed to achieve substantive results, so the US dollar index surged to 82. As a result, LME zinc prices plummeted to USD 1,861/mt and finally closed at USD 1,871/mt. Trading volumes increased by 3,244 lots to 9,979 lots, and total position increased by 6,962 lots to 273,968 lots. SHFE three-month zinc contract prices should move between RMB 14,550-14,750/mt today, with spot discounts narrowing to RMB 0-30/mt.
 

Key Words:  LME zinc prices