SMM Morning Review - 2010/3/23 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2010/3/23 Zinc Market

SMM Insight 10:45:36AM Mar 23, 2010 Source:SMM

SHANGHAI, Mar. 23 (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. 22nd     
2,285
-32
54,827
218,879
540,850

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. 22nd                   
18,160
18,255
18,342
1:6.8264

 
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. 22nd                   
18,560
18,590
18,715
17,975

Summary

The US lawmakers have passed landmark health care reform legislation, directly pushing up the US dollar, and LME zinc prices fell to as low as USD 2,235/mt in response on March 22nd. However, LME zinc prices regained some lost ground supported by purchases, with prices finally closing at USD 2,285/mt. SHFE zinc prices are expected to continue to fluctuate today, with SHFE 1006 zinc contract prices expected to move 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 - 2010/3/23 Zinc Market

SMM Insight 10:45:36AM Mar 23, 2010 Source:SMM

SHANGHAI, Mar. 23 (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. 22nd     
2,285
-32
54,827
218,879
540,850

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. 22nd                   
18,160
18,255
18,342
1:6.8264

 
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. 22nd                   
18,560
18,590
18,715
17,975

Summary

The US lawmakers have passed landmark health care reform legislation, directly pushing up the US dollar, and LME zinc prices fell to as low as USD 2,235/mt in response on March 22nd. However, LME zinc prices regained some lost ground supported by purchases, with prices finally closing at USD 2,285/mt. SHFE zinc prices are expected to continue to fluctuate today, with SHFE 1006 zinc contract prices expected to move 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