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SMM Zinc Market Morning Review (2012/10/10)
Oct 10,2012 09:22CST
price review forecast
Source:SMM
LME zinc prices overnight rose briefly and then rolled back gains as the US dollar index climbed.

SHANGHAI, Oct. 10 (SMM) – LME zinc prices overnight rose briefly and then rolled back gains as the US dollar index climbed. Disappointing eurozone finance minister meeting triggered concerns again, while the minute of the US Federal Reserve showed it remained cautious towards economy in September. As a result, the US dollar index tried to touch 80, pushing down LME zinc prices to USD 2,008/mt. Finally, LME zinc prices closed at USD 2,014/mt, down USD 20/mt.

LME zinc prices should move between USD 2,000-2,030/mt today, and SHFE 1301 zinc contract prices should move between RMB 15,350-15,550/mt, with spot discounts between RMB 240-270/mt.

 

LME zinc prices
SHFE zinc prices

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