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SMM Morning Review - 2010/12/7 Zinc Market
SHANGHAI, Dec. 7 (SMM) -- The Federal Reserve Chairman Ben Bernanke said the central bank could buy more than the USD 600 billion in US government bonds it has committed to purchase, allowing the US dollar index to fail to climb to 80. LME zinc prices opened at USD 2,245/mt, and finally closed at USD 2,245/mt after dipping to USD 2,216/mt, with prices hitting the 20-day moving average. Trading volumes fell further by 1,000 lots to 48,762 lots, while positions increased slightly by 600 lots to 229,742 lots. LME zinc price movements will help support SHFE zinc prices to struggle at the RMB 18,500/mt mark today.
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