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SMM Zinc Market Morning Review (2013-3-8)
Mar 8,2013 09:26CST
price review forecast
Source:SMM
LME zinc prices overnight opened at USD 1,984/mt, and then moved between USD 1,975-1,985/mt.

SHANGHAI, Mar. 8 (SMM) – LME zinc prices overnight opened at USD 1,984/mt, and then moved between USD 1,975-1,985/mt. Bank of UK and European central bank maintained interest rates unchanged, so the euro rebounded. Besides, the number of US jobless claims last week was lower than both forecasts and the previous week, and this increased expectations that US non-farm data due this Friday will be positive. In this context, LME zinc prices touched USD 2,006.8/mt, and finally closed at USD 1,990/mt, up 0.4%. Trading volumes decreased by 2,140 lots to 11,481 lots, and total position increased by 99 lots to 267,396 lots. LME zinc inventories fell by 2,775 mt, to 1,198,025 mt.

LME zinc prices should fluctuate between USD 1,985-2,015/mt today, and SHFE 1306 zinc contract prices should move between RMB 15,260-15,400/mt, with spot discounts against SHFE 1305 zinc contract prices between RMB 220-250/mt.
 

LME zinc prices

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