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SMM Morning Review - 2010/7/19 Zinc Market
SHANGHAI, July 19 (SMM) -- A drop in the US stocks weighed down base metals prices last Friday, and LME zinc prices fell below USD 1,800/mt, with the lowest prices reported at USD 1,780/mt, and finally prices ended at USD 1,785/mt. LME zinc prices mainly moved below daily moving averages, and are expected to fluctuate weakly around USD 1,800/mt in the short term.
SMM predicts SHFE 1010 zinc contract prices will likely fall below RMB 15,000/mt today amid weak LME zinc prices, with prices expected to move between RMB 14,800-15,000/mt.
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