SMM Morning Review - 2012/5/28 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2012/5/28 Zinc Market

SMM Insight 09:47:57AM May 28, 2012 Source:SMM

SHANGHAI, May 28 (SMM) – LME zinc prices last Friday opened at USD 1,880.3/mt during Asian trading hours and hovered between USD 1,875-1,888/mt later in the day. As the US dollar index weakened, LME zinc prices rose to USD 1,900/mt. It is reported France's banking sector is making plans if there is any country exiting the euro zone, and consumer confidence index in the US and Europe rose, so LME zinc prices closed at USD 1,900.5/mt. Trading volumes decreased by 464 lots to 5,624 lots, and total position increased by 2,160 lots to 275,916 lots.

SHFE three-month zinc contract prices should move between RMB 14,850-15,050/mt today, with spot discounts between RMB 50-100/mt.

 

Key Words:  LME zinc prices 

SMM Morning Review - 2012/5/28 Zinc Market

SMM Insight 09:47:57AM May 28, 2012 Source:SMM

SHANGHAI, May 28 (SMM) – LME zinc prices last Friday opened at USD 1,880.3/mt during Asian trading hours and hovered between USD 1,875-1,888/mt later in the day. As the US dollar index weakened, LME zinc prices rose to USD 1,900/mt. It is reported France's banking sector is making plans if there is any country exiting the euro zone, and consumer confidence index in the US and Europe rose, so LME zinc prices closed at USD 1,900.5/mt. Trading volumes decreased by 464 lots to 5,624 lots, and total position increased by 2,160 lots to 275,916 lots.

SHFE three-month zinc contract prices should move between RMB 14,850-15,050/mt today, with spot discounts between RMB 50-100/mt.

 

Key Words:  LME zinc prices