SMM Morning Review - 2012/7/5 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2012/7/5 Zinc Market

Price Review & Forecast 10:33:25AM Jul 05, 2012 Source:SMM

SHANGHAI, Jul. 5 (SMM) – LME zinc prices overnight plummeted after opening, and dipped to USD 1,883.8/mt at noon, and then fluctuated between USD 1,880-1,890/mt. Eurozone comprehensive PMI during June was revised to 46.4, with the initial 46.0, indicating European debt crisis has spread to major countries. Besides, investors left the market on US Independence Day holiday. The market was cautious ahead of the release of US non-farm data. In this context, LME zinc prices touched USD 1,905/mt but fell and finally closed at USD 1,893/mt, down USD 17.8/mt, or 0.93%.

LME zinc prices should move between USD 1,890-1,910/mt today, and SHFE three-month zinc contract prices should move between RMB 14,750-14,900/mt, with spot discounts expanding to RMB 90-120/mt.
 

Key Words:  LME zinc prices  zinc prices 

SMM Morning Review - 2012/7/5 Zinc Market

Price Review & Forecast 10:33:25AM Jul 05, 2012 Source:SMM

SHANGHAI, Jul. 5 (SMM) – LME zinc prices overnight plummeted after opening, and dipped to USD 1,883.8/mt at noon, and then fluctuated between USD 1,880-1,890/mt. Eurozone comprehensive PMI during June was revised to 46.4, with the initial 46.0, indicating European debt crisis has spread to major countries. Besides, investors left the market on US Independence Day holiday. The market was cautious ahead of the release of US non-farm data. In this context, LME zinc prices touched USD 1,905/mt but fell and finally closed at USD 1,893/mt, down USD 17.8/mt, or 0.93%.

LME zinc prices should move between USD 1,890-1,910/mt today, and SHFE three-month zinc contract prices should move between RMB 14,750-14,900/mt, with spot discounts expanding to RMB 90-120/mt.
 

Key Words:  LME zinc prices  zinc prices