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SMM Morning Review - 2010/7/26 Zinc Market
SHANGHAI, July 26 (SMM) -- LME base metals prices were mixed on July 23rd, and LME zinc prices closed with decline after ending with gains for four consecutive days, but prices still moved above USD 1,900/mt. Finally, LME three-month zinc contract prices closed at USD 1,920/mt, with the 5-day moving average up sharply, and SMM predicts LME zinc prices will fluctuate at high levels in the near term.
SHFE 1010 zinc contract prices failed to break through the RMB 16,000/mt mark last Friday, with strong pressure reported at this level. SMM predicts SHFE 1010 zinc contract prices will continue to fluctuate between RMB 15,500-15,800/mt.
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