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SMM Morning Review - 2010/7/21 Zinc Market
SHANGHAI, July 21 (SMM) -- LME base metals prices closed with gains last night, and LME zinc prices jumped by 3% to USD 1,865/mt supported by fund buying, with prices breaking through all moving averages, and LME zinc prices are expected to continue to fluctuate around USD 1,850/mt in the near term.
SHFE 1010 zinc contract prices faced strong pressure at RMB 15,500/mt yesterday, and are expected to challenge this level today. If SHFE 1010 zinc contract prices lack upward momentum, prices are expected to move between RMB 15,200-15,500/mt.
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