SMM Morning Review - 2010/3/22 Zinc Market-Shanghai Metals Market

Hot Keywords

  • Nickel market
  • Market commentary
  • Silicon
  • zinc
  • Copper
  • Aluminium
  • Production data
  • Inventory data
  • Zinc
  • Sales data
  • Stainless steel
  • Nickel
  • Morning comments
  • Silicon metal
  • Nickel pig iron

SMM Morning Review - 2010/3/22 Zinc Market

SMM Insight 10:50:19AM Mar 22, 2010 Source:SMM

SHANGHAI, Mar. 22 (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. 19th   
2,280
-31
49,358
218,202
540,325

SHFE Market

 
Zinc – Spot Month (RMB/mt)
RMB/USD
SHFE Close
Settlement
Weighted Ave.
Mar. 15th                
17,960
17,970
18,224
1:6.8261
Mar. 19th                  
18,605
18,540
18,352
1:6.8263

 
Zinc – 3mth (RMB/mt)
Shanghai Spot
#0 Zinc Ingot
SHFE Close
Settlement
Weighted Ave.
Mar. 15th                
18,315
18,420
18,247
17,950
Mar. 19th                  
18,965
18,895
18,743
18,150

Summary

India's central bank unexpectedly raised interest rates on Friday for the first time in almost two years, and investors were concerned that all governments, especially Chinese Government will tighten up monetary policy, resulting in higher demand for the US dollar's risk-avoidance. The US dollar advanced to as high as 80,889 last Friday as a result, and LME zinc prices fell in response, with prices finally closing at USD 2,280/mt, and both trading volumes and positions declined. SMM predicts SHFE zinc prices will continue to fluctuate today, with SHFE 1006 zinc contract prices expected to hover in the RMB 18,500-18,900/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 - 2010/3/22 Zinc Market

SMM Insight 10:50:19AM Mar 22, 2010 Source:SMM

SHANGHAI, Mar. 22 (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. 19th   
2,280
-31
49,358
218,202
540,325

SHFE Market

 
Zinc – Spot Month (RMB/mt)
RMB/USD
SHFE Close
Settlement
Weighted Ave.
Mar. 15th                
17,960
17,970
18,224
1:6.8261
Mar. 19th                  
18,605
18,540
18,352
1:6.8263

 
Zinc – 3mth (RMB/mt)
Shanghai Spot
#0 Zinc Ingot
SHFE Close
Settlement
Weighted Ave.
Mar. 15th                
18,315
18,420
18,247
17,950
Mar. 19th                  
18,965
18,895
18,743
18,150

Summary

India's central bank unexpectedly raised interest rates on Friday for the first time in almost two years, and investors were concerned that all governments, especially Chinese Government will tighten up monetary policy, resulting in higher demand for the US dollar's risk-avoidance. The US dollar advanced to as high as 80,889 last Friday as a result, and LME zinc prices fell in response, with prices finally closing at USD 2,280/mt, and both trading volumes and positions declined. SMM predicts SHFE zinc prices will continue to fluctuate today, with SHFE 1006 zinc contract prices expected to hover in the RMB 18,500-18,900/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