SMM Morning Review - 2010/3/15 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2010/3/15 Zinc Market

SMM Insight 11:28:22AM Mar 15, 2010 Source:SMM

SHANGHAI, Mar. 15 (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. 12th    
2,340
-28
54,378
228,818
538,750

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. 12th                   
18,470
18,380
18,237
1:6.8262

 
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. 12th                   
18,880
18,765
18,247
18,175

Summary

The US dollar hit a one-month low against the Euro and touched a two-week low against the Pound last Friday, helping support metals prices. LME zinc prices closed at USD 2,340/mt finally, and mainly moved around the 60-day moving average line, with prices expected to fluctuate in the USD 2,300-2,400/mt range in the near future. Domestic market focus will shift from hot topics in the meeting to actual market consumption after the successful conclusion of the NPC and CPPCC sessions. Today is the last trading day of SHFE 1003 zinc contracts, and zinc price fluctuations are expected to ease, and SHFE 1006 zinc contract prices will move in the RMB 18,600-19,000/mt range.

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

Key Words:  Market movement  zinc price  zinc Zn 

SMM Morning Review - 2010/3/15 Zinc Market

SMM Insight 11:28:22AM Mar 15, 2010 Source:SMM

SHANGHAI, Mar. 15 (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. 12th    
2,340
-28
54,378
228,818
538,750

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. 12th                   
18,470
18,380
18,237
1:6.8262

 
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. 12th                   
18,880
18,765
18,247
18,175

Summary

The US dollar hit a one-month low against the Euro and touched a two-week low against the Pound last Friday, helping support metals prices. LME zinc prices closed at USD 2,340/mt finally, and mainly moved around the 60-day moving average line, with prices expected to fluctuate in the USD 2,300-2,400/mt range in the near future. Domestic market focus will shift from hot topics in the meeting to actual market consumption after the successful conclusion of the NPC and CPPCC sessions. Today is the last trading day of SHFE 1003 zinc contracts, and zinc price fluctuations are expected to ease, and SHFE 1006 zinc contract prices will move in the RMB 18,600-19,000/mt range.

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

Key Words:  Market movement  zinc price  zinc Zn