[Zn] SMM Morning Review - 2009/8/6 Zinc Market-Shanghai Metals Market

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[Zn] SMM Morning Review - 2009/8/6 Zinc Market

SMM Insight 01:16:23PM Dec 07, 2009 Source:SMM

SHANGHAI, Aug. 6 (SMM) -- LME Market 

 
Close
(USD/mt)
Premium/Discount
Volume
(lot)
Position
(lot)
Inventory
(mt)
3-mth Contract
Spot – 3 mth
July Average
1,606
-25.5
46,010
215,749
358,340
Aug. 5th        
1,920
-25
58,515
211,562
434,050

SHFE Market

 
Zinc – Spot Month (RMB/mt)
RMB/USD
SHFE Close
Settlement
Weighted Ave.
July 15th
13,050
13,005
13,188
1:6.8328
Aug. 5th            
15,100
15,075
13,842
1:6.8306
 

 
Zinc – 3mth (RMB/mt)
Shanghai Spot
#0 Zinc Ingot
SHFE Close
Settlement
Weighted Ave.
July 15th
13,220
13,110
13,351
13,025
Aug. 5th       
15,195
15,265
13,701
14,875

Summary

On Wednesday, Shanghai #0 zinc was traded at RMB 14,850-14,900/mt, offers were RMB 14,900-15,000/mt for brands for delivery; #1 zinc and imported zinc were traded at RMB 14,800/mt, spot transactions were general, and SHFE zinc prices stabilized, and downstream consumers purchased limitedly. The proportion of downstream consumers in spot transactions was very low. Guangdong #0 zinc ingot for delivery was traded at RMB 15,000/mt, with very scarce transactions. #0 zinc was traded at RMB14,750-14,800/mt, and #1 zinc was traded at RMB 14,700/mt. SHFE zinc prices fluctuated slightly, with limited inquiries for spot zinc and low downstream purchasing interest.

As to futures market, yesterday SHFE zinc prices fluctuated in the high level, and great growth rate for zinc prices generated large number of profit-takers. SHFE zinc prices faced resistance in recovering track, and SHFE zinc three-month contract prices fluctuated downward, and closed at RMB 15,300/mt finally. Both volumes and positions decreased, and continuous increases in LME zinc inventories limited the upward momentum for zinc prices. The upward momentum for SHFE zinc prices faded in the short term, but the upward trend for zinc prices will remain unchanged.

 

Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.

None of this material may be used for any commercial or public use in any form or means, without the prior written consent of CBI China. For reproduction issue, please contact us by email: metalresearch@cbichina.com or tel:86-21-51550040

[Zn] SMM Morning Review - 2009/8/6 Zinc Market

SMM Insight 01:16:23PM Dec 07, 2009 Source:SMM

SHANGHAI, Aug. 6 (SMM) -- LME Market 

 
Close
(USD/mt)
Premium/Discount
Volume
(lot)
Position
(lot)
Inventory
(mt)
3-mth Contract
Spot – 3 mth
July Average
1,606
-25.5
46,010
215,749
358,340
Aug. 5th        
1,920
-25
58,515
211,562
434,050

SHFE Market

 
Zinc – Spot Month (RMB/mt)
RMB/USD
SHFE Close
Settlement
Weighted Ave.
July 15th
13,050
13,005
13,188
1:6.8328
Aug. 5th            
15,100
15,075
13,842
1:6.8306
 

 
Zinc – 3mth (RMB/mt)
Shanghai Spot
#0 Zinc Ingot
SHFE Close
Settlement
Weighted Ave.
July 15th
13,220
13,110
13,351
13,025
Aug. 5th       
15,195
15,265
13,701
14,875

Summary

On Wednesday, Shanghai #0 zinc was traded at RMB 14,850-14,900/mt, offers were RMB 14,900-15,000/mt for brands for delivery; #1 zinc and imported zinc were traded at RMB 14,800/mt, spot transactions were general, and SHFE zinc prices stabilized, and downstream consumers purchased limitedly. The proportion of downstream consumers in spot transactions was very low. Guangdong #0 zinc ingot for delivery was traded at RMB 15,000/mt, with very scarce transactions. #0 zinc was traded at RMB14,750-14,800/mt, and #1 zinc was traded at RMB 14,700/mt. SHFE zinc prices fluctuated slightly, with limited inquiries for spot zinc and low downstream purchasing interest.

As to futures market, yesterday SHFE zinc prices fluctuated in the high level, and great growth rate for zinc prices generated large number of profit-takers. SHFE zinc prices faced resistance in recovering track, and SHFE zinc three-month contract prices fluctuated downward, and closed at RMB 15,300/mt finally. Both volumes and positions decreased, and continuous increases in LME zinc inventories limited the upward momentum for zinc prices. The upward momentum for SHFE zinc prices faded in the short term, but the upward trend for zinc prices will remain unchanged.

 

Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.

None of this material may be used for any commercial or public use in any form or means, without the prior written consent of CBI China. For reproduction issue, please contact us by email: metalresearch@cbichina.com or tel:86-21-51550040