SMM Morning Review - 2010/1/19 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2010/1/19 Zinc Market

SMM Insight 10:09:30AM Jan 19, 2010 Source:SMM

SHANGHAI, Jan. 19 (SMM) -- LME Market 

 
Close
(USD/mt)
Premium/Discount
Volume
(lot)
Position
(lot)
Inventory
(mt)
3-mth Contract
Spot – 3 mth
Dec. Average
2,413
-35
58,321
230,995
462,634
Jan. 18th
2,575
-27
42,152
230,432
488,125

SHFE Market

 
Zinc – Spot Month (RMB/mt)
RMB/USD
SHFE Close
Settlement
Weighted Ave.
Dec. 16th              
18,390
18,370
18,371
1:6.8280
Jan. 18th                
20,190
20,065
20,069
1:6.8272

 
Zinc – 3mth (RMB/mt)
Shanghai Spot
#0 Zinc Ingot
SHFE Close
Settlement
Weighted Ave.
Dec. 16th              
18,700
18,680
18,684
18,100
Jan. 18th                  
20,550
20,415
20,415
19,955

Summary

On the first trading day of this week, #0 zinc was traded between RMB 19,930-19,980/mt, with almost no deals made above RMB 20,000/mt, and #1 zinc was traded at RMB 19,900-19,950/mt in Shanghai market. Transactions were moderate. However, SHFE zinc prices showed bullish performance yesterday, with major SHFE zinc contracts moving higher following SHFE copper prices. Trading sentiment was brisk on SHFE zinc market, with positions down significantly.

SHFE 1004 zinc contract opened at RMB 20,290/mt, and closed at RMB 20,550/mt, up RMB 5/mt compared with the previous trading day, with price fluctuation limit of 0.02%, and with the highest level and lowest level at RMB 20,575/mt and RMB 20,235/mt, respectively. Trading volumes of SHFE 1004 zinc contract reported 282,500 lots, and positions were 119,920 lots, with trading value reaching RMB 28.84 billion. SHFE spot-month zinc contract prices closed at RMB 20,190/mt.

Technically, SHFE three-month contract zinc prices moved below 5-day moving average line, showing signs of declining in the future, with prices expected to move around RMB 20,000/mt in the near term.

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn

Key Words:  Market movement  zinc price  zinc Zn 

SMM Morning Review - 2010/1/19 Zinc Market

SMM Insight 10:09:30AM Jan 19, 2010 Source:SMM

SHANGHAI, Jan. 19 (SMM) -- LME Market 

 
Close
(USD/mt)
Premium/Discount
Volume
(lot)
Position
(lot)
Inventory
(mt)
3-mth Contract
Spot – 3 mth
Dec. Average
2,413
-35
58,321
230,995
462,634
Jan. 18th
2,575
-27
42,152
230,432
488,125

SHFE Market

 
Zinc – Spot Month (RMB/mt)
RMB/USD
SHFE Close
Settlement
Weighted Ave.
Dec. 16th              
18,390
18,370
18,371
1:6.8280
Jan. 18th                
20,190
20,065
20,069
1:6.8272

 
Zinc – 3mth (RMB/mt)
Shanghai Spot
#0 Zinc Ingot
SHFE Close
Settlement
Weighted Ave.
Dec. 16th              
18,700
18,680
18,684
18,100
Jan. 18th                  
20,550
20,415
20,415
19,955

Summary

On the first trading day of this week, #0 zinc was traded between RMB 19,930-19,980/mt, with almost no deals made above RMB 20,000/mt, and #1 zinc was traded at RMB 19,900-19,950/mt in Shanghai market. Transactions were moderate. However, SHFE zinc prices showed bullish performance yesterday, with major SHFE zinc contracts moving higher following SHFE copper prices. Trading sentiment was brisk on SHFE zinc market, with positions down significantly.

SHFE 1004 zinc contract opened at RMB 20,290/mt, and closed at RMB 20,550/mt, up RMB 5/mt compared with the previous trading day, with price fluctuation limit of 0.02%, and with the highest level and lowest level at RMB 20,575/mt and RMB 20,235/mt, respectively. Trading volumes of SHFE 1004 zinc contract reported 282,500 lots, and positions were 119,920 lots, with trading value reaching RMB 28.84 billion. SHFE spot-month zinc contract prices closed at RMB 20,190/mt.

Technically, SHFE three-month contract zinc prices moved below 5-day moving average line, showing signs of declining in the future, with prices expected to move around RMB 20,000/mt in the near term.

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn

Key Words:  Market movement  zinc price  zinc Zn