SMM Morning Review - 2012/7/13 Zinc Market

SHANGHAI, Jul. 13 (SMM) – LME zinc prices overnight opened at USD 1,846.5/mt and dipped to USD 1,837.5/mt along with SHFE zinc prices, and then moved between USD 1,830-1,850/mt as the Shanghai Composite Index rebounded slightly. As Australian job data was worse than expected, and due to concerns over China’s GDP, LME zinc prices fell further and dipped to USD 1,830.8/mt, and finally closed at USD 1,846.5/mt, down USD 2.8/mt, or 0.15%.

LME zinc prices should move between USD 1,830-1,860/mt today, and SHFE three-month zinc contract prices should move between RMB 14,550-14,700/mt, with spot discounts between RMB 80-100/mt.