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SMM Morning Review - 2010/7/6 Zinc Market
SHANGHAI, July 6 (SMM) -- US markets were closed yesterday for the Independence Day holiday, and trading sentiment was quiet in base metals markets as a result. LME zinc prices edged higher during Asian trading hours, but later slipped, and finally prices closed at USD 1,815/mt, with the lowest prices reported at USD 1,795/mt. Technical indicator shows an unclear market direction. SHFE zinc prices faced pressure at RMB 15,400/mt yesterday, and a portion of long positions exited from the market before closing, so SMM predicts SHFE 1010 zinc contract prices will move around RMB 15,000/mt today.
To contact the writer on this report: monicagao@smm.cn
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