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SMM Morning Review - 2010/9/29 Zinc Market
SHANGHAI, Sept. 29 (SMM) -- The US consumer confidence index in September was 48.5, much lower than market forecast of 52, with the index hitting a record low since February 2010. The weak consumer confidence data spurred market expectations that the Federal Reserve will take measures to stimulate US economy in advance. In response, the US dollar index weakened to 78.917, and LME base metals prices rebounded as a result. LME zinc prices closed at USD 2,222/mt, up USD 27/mt. Trading volumes declined significantly by over 6,000 lots to 38,022 lots, and market trading sentiment was lackluster.
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