SMM Morning Review - 2012/7/18 Zinc Market

Jul 18, 2012 10:38

LME zinc prices overnight opened at USD 1,884/mt and generally moved between USD 1,880-1,890/mt.

SHANGHAI, Jul. 18 (SMM) – LME zinc prices overnight opened at USD 1,884/mt and generally moved between USD 1,880-1,890/mt. As large numbers of shorts sold off goods, LME zinc prices plummeted to USD 1,874.3/mt. US industry output during June rose by 0.4%, while expectations of QE3 implementation grew due to recent disappointing economic data. But Bernanke did not mention QE3 in his testimony to Congress. As a result, LME zinc prices slumped to an intraday low USD 1,864/mt, and finally closed at USD 1,871.5/mt, down USD 16.3/mt, or 0.86%.

LME zinc prices should move between USD 1,870-1,890/mt today, and SHFE three-month zinc contract prices should move between RMB 14,750-14,900/mt, with spot discounts between RMB 90-120/mt.

zinc prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Privacy Policy Compliance Centre SMM Credit Service Contact Us About Us Terms & Conditions Sitemap Holiday Pricing Schedule

Notice: By accessing this site you agree that you will not copy or reproduce any part of its contents (including, but not limited to, single prices, graphs or news content) in any form or for any purpose whatsoever without the prior written consent of the publisher.

SMM Morning Review - 2012/7/18 Zinc Market

SMM Events & Webinars

NET ZERO CHINA Field Trip

SMM Indonesia Seminar: Li-ion Battery & Energy Storage

2025 ASIA BATTERY MATERIAL COOPERATION SALON