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SMM Morning Review - 2010/10/9 Zinc Market
SHANGHAI, Oct. 9 (SMM) -- According to US data released yesterday, the number of US non-farm employment unexpectedly decreased by 95,000, much higher than the forecast of 10,000. The larger-than-forecast cut in U.S. jobs spurred speculation that the Federal Reserve will take more steps to bolster the economy, and the US dollar index dipped again to 77.135. Meanwhile, Dow Jones Industrial Average and Nasdaq Composite Index both closed with gains. As a result, LME zinc prices fluctuated higher last night, with prices finally closing at USD 2,294/mt. The trading volumes decreased by over 10,000 lots to over 620,000 lots, and total positions increased by over 10,000 lots to 230,000 lots.
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