SHANGHAI, Mar. 9 (SMM) -- LME Market
|
|
Close
(USD/mt)
|
Premium/Discount
|
Volume
(lot)
|
Position
(lot)
|
Inventory
(mt)
|
|
3-mth Contract
|
Spot – 3 mth
|
||||
|
Feb. Average
|
2,179
|
-16
|
57,796
|
214,806
|
516,444
|
|
Mar. 8th
|
2,375
|
-28
|
63,470
|
222,364
|
540,500
|
SHFE Market
|
|
Zinc – Spot Month (RMB/mt)
|
RMB/USD
|
||
|
SHFE Close
|
Settlement
|
Weighted Ave.
|
||
|
Feb. 12th
|
18,060
|
17,995
|
17,648
|
1:6.8269
|
|
Mar. 8th
|
18,650
|
18,455
|
18,124
|
1:6.8266
|
|
|
Zinc – 3mth (RMB/mt)
|
Shanghai Spot
#0 Zinc Ingot
|
||
|
SHFE Close
|
Settlement
|
Weighted Ave.
|
||
|
Feb. 12th
|
18,345
|
18,320
|
17,912
|
17,900
|
|
Mar. 8th
|
19,045
|
18,850
|
18,225
|
18,325
|
Summary
LME zinc prices moved lower negatively affected by the profit-taking, with prices finally closing at USD 2,375/mt, but the purchasing interest waned when zinc prices were above USD 2,400/mt, since the process of global economic recovery remains unclear. LME zinc prices are expected to fluctuate, but the price range will move higher. Yesterday, SHFE zinc prices showed strong performance, but the sluggish spot market depressed SHFE zinc market, and SMM predicts SHFE 1006 zinc contract prices will move in the RMB 18,800-19,300/mt range today.
To contact the writer on this report: monicagao@smm.cn
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
