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
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