SHANGHAI, Jun. 13 (SMM) – LME zinc prices overnight fell slightly after opening during Asian trading hours and once touched an intraday low of USD 1,874.3/mt. Due to the weak US dollar index, LME zinc prices climbed slightly and fluctuated between USD 1,870-1,890/mt. Spanish government bond yields surged to 7%, causing concerns over European debt crisis to improve. As a result, LME zinc prices fluctuated between USD 1,875-1,895/mt and finally closed at USD 1,880.5/mt, down USD 9.5/mt.
LME zinc prices should move between USD 1,875-1,895/mt today, and SHFE three-month zinc contract prices should move between RMB 14,750-14,900/mt, with spot discounts remaining between RMB 70-100/mt.