SHANGHAI, Jul. 23 (SMM) – LME zinc prices last Friday opened at USD 1,882/mt. As the Ministry of Land and resources and the Ministry of Housing and Urban-Rural Development emphasized local governments should strictly implement regulation policies to the real estate sector, LME zinc prices slid. Spanish 10-year government bond yields rose significantly to hit a record high for the year at 7.18%, pushing down LME zinc prices. Finally, LME zinc prices closed at USD 1,838.5/mt, down USD 48.5/mt or 2.57%.
LME zinc prices should move between USD 1,830-1,850/mt today, and SHFE three-month zinc contract prices should move between RMB 14,500-14,700/mt, with spot discounts between RMB 50-80/mt.