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SMM Morning Review - 2010/7/22 Zinc Market
SHANGHAI, July 22 (SMM) -- LME zinc prices moved higher driven up by LME copper prices last night, with prices rising by 2.14% to USD 1,905/mt, hitting a record high since June 1st, 2010. The price range of LME zinc climbed gradually, intensifying the divergence of market views on future prices.
SHFE zinc prices are expected to head for the RMB 15,800/mt resistance level today led by LME zinc prices. Special focus should be put on the effect of spot market sentiment on SHFE zinc prices.
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