Zinc social inventories fell 500 mt on weekend

Chinalco (Xiong’an) Mining, a subsidiary of Aluminum Corporation of China, has agreed to acquire a 95% stake in the Opuwo Cobalt-Copper Project in Namibia from Celsius Resources for US$15 million. The Opuwo Project, located in Namibia’s Kunene Region, hosts a mineral resource estimate of 225.5 million tonnes grading 0.12% cobalt, 0.43% copper and 0.54% zinc. The resource contains approximately 259,000 tonnes of cobalt, 970,000 tonnes of copper and around 1.22 million tonnes of contained zinc, including 45.3 million tonnes in the indicated category and 180.2 million tonnes in the inferred category. Under the agreement, Chinalco (Xiong’an) Mining has also committed to invest at least US$750,000 in exploration activities and US$250,000 in metallurgical test work while regulatory approvals and licence renewals are being completed.

[Komentar pagi seng SMM] Semalam, kontrak seng SHFE 2608 yang paling aktif dibuka pada 24.130 yuan/ton. Pada awal sesi, pihak bearish memotong posisi, menyebabkan harga terkonsolidasi dan menguat, menyentuh level tertinggi 24.250 yuan/ton. Kemudian, pihak bullish memotong posisi, mendorong seng SHFE mundur ke level terendah 24.105 yuan/ton. Selanjutnya, pihak bullish menambah posisi, mengangkat seng SHFE secara bertahap di atas garis harga rata-rata harian. Akhirnya ditutup menguat di 24.210 yuan/ton, naik 80 yuan/ton atau 0,33%.

[Ringkasan Rapat Pagi SMM: Data non-farm payrolls di bawah ekspektasi, mendukung rebound seng LME dari posisi terendah] Semalam, seng LME dibuka pada $3.487,5/mt. Pada perdagangan awal, harga bergerak sideways di sekitar rata-rata harian, mencapai titik tertinggi $3.503,5/mt; selanjutnya, harga seng secara bertahap terkoreksi dan turun ke titik terendah $3.432,5/mt; memasuki sesi perdagangan Eropa, harga konsolidasi dan pulih, dengan pusat harga perlahan naik kembali di atas garis rata-rata harian; pada sesi akhir, harga kembali turun tipis dan akhirnya ditutup pada $3.472,5/mt, turun $19,5/mt, penurunan sebesar 0,56%.