SMM Zinc Market Morning Review (2013-3-20)

SHANGHAI, Mar. 20 (SMM) – LME zinc prices started at USD 1,924/mt Tuesday and rose to move between USD 1,930-1,935/mt. Later, however, the vote of Cyprus Parliament on deposit tax raised market concerns, LME zinc prices fell to a low of USD 1,903.8/mt, but the European Central Bank announced to provide liquidity to the country under the existing policy framework, shoring up the market, so LME zinc prices closed at USD 1,920/mt , down USD 0.8/mt or 0.04%.

On March 20, SHFE 1306 zinc contract prices are expected to move between RMB 14,790-14,950/mt, while spot discounts over the most active SHFE zinc contract price should be RMB 170-190/mt.