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SMM Zinc Market Morning Review (2013-3-29)
Mar 29,2013 09:05CST
SMM Comments
LME zinc prices overnight opened at USD 1,918/mt.

SHANGHAI, Mar. 29 (SMM) – LME zinc prices overnight opened at USD 1,918/mt. As Asian stocks closed down during Asian trading hours, LME zinc prices were weighed down to USD 1,905/mt. After Asian trading hours, Germany's February retail sales were much lower than forecasts, pushing down the euro and investor confidence. In this context, LME zinc prices fell below USD 1,900/mt, and dipped further to a four-and-a-half-month low of USD 1,875/mt. Italian President announced Center-left head Pier Luigi Bersani failed to form a government. US GDP, the number of first-time jobless claims last week and March Chicago PMI all fell short of expectations. As a result, LME zinc prices hovered around USD 1,895/mt, and finally closed at USD 1,896/mt, up USD 21.8/mt or 1.13%. Trading volumes decreased by 3,168 lots to 9,898 lots, and total position increased by 5,107 lots to 261,263 lots. LME zinc inventories fell by 7,175 mt, to 1,175,525 mt.

LME zinc prices

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