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SMM Morning Review - 2010/9/8 Zinc Market
SHANGHAI, Sept. 8 (SMM) -- The Wall Street Journal said European stress tests of major banks understated some lenders' holdings of potentially risky government debt, fueling investor concerns over the sovereign debt crisis in Europe. Yesterday, the US dollar index strengthened further and closed at 82.845. As a result, LME base metals prices closed with declines on Tuesday, and LME zinc prices even dipped to USD 2,150/mt, but finally closed at USD 2,185/mt, down USD 15/mt. Trading volumes were nearly 40,000 lots, up over 4,000 lots compared with yesterday levels, while positions remained 230,000 lots, down over 1,000 lots compared with yesterday levels.
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