SHANGHAI, Jun. 14 (SMM) – LME zinc prices overnight opened at USD 1,883.5/mt, and moved between USD 1,880-1,886/mt in the morning session. Due to the weak US dollar index, LME zinc prices rebounded to an intraday high of USD 1,893/mt in the midday. As Moody’s downgraded Spanish government bond rating by three notches, LME zinc prices slid. Besides, US May retail sales dropped for the second consecutive month. As a result, LME zinc prices fluctuated at low levels and finally closed at USD 1,881/mt, up USD 0.5/mt.
LME zinc prices should move between USD 1,875-1,890/mt today, and SHFE three-month zinc contract prices should move between RMB 14,750-14,850/mt, with spot discounts remaining between RMB 70-100/mt.