SHANGHAI, Mar. 7 (SMM) – LME zinc prices overnight opened at USD 2,015/mt. The US dollar index soared to a six-month high of 82.604, with daily gains of 0.62%. Besides, LME zinc inventories grew by 7,050 mt, to 1,200,800 mt. In this context, LME zinc prices fell and dipped to USD 1,971.3/mt, slightly higher than their lowest of USD 1,966.5/mt since December 2012, and rolling back all gains from late January to mid February. Trading volumes increased by 2,015 lots to 13,621 lots, and total position decreased by 3,819 lots to 267,297 lots.
LME zinc prices should fluctuate between USD 1,966-2,000/mt today, and SHFE 1306 zinc contract prices should move between RMB 15,250-15,400/mt, with spot discounts against SHFE 1305 zinc contract prices between RMB 200-240/mt.