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SMM Morning Review - 2012/7/27 Zinc Market
Jul 27,2012 10:11CST
price review forecast
Source:SMM
LME zinc prices overnight fluctuated around USD 1,800/mt level during Asian trading hours, and dipped to an intraday low at USD 1,798.5/mt as the US dollar index rose.

SHANGHAI, Jul. 27 (SMM) – LME zinc prices overnight fluctuated around USD 1,800/mt level during Asian trading hours, and dipped to an intraday low at USD  1,798.5/mt as the US dollar index rose. European central bank President Mario Draghi said they will protect the euro at any expense, pushing up European and US stocks. In this context, LME zinc prices surged and finally closed at USD 1,816/mt, up USD 3.5/mt. Trading volumes decreased by 2,914 lots to 6,425 lots, and total position increased by 1,019 lots to 253,158 lots.

LME zinc prices should move between USD 1,800-1,830/mt today, and SHFE three-month zinc contract prices should move between RMB 14,400-14,550/mt, with spot discounts between RMB 40-60/mt.
 

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