SMM Morning Review - 2010/3/26 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2010/3/26 Zinc Market

SMM Insight 10:17:16AM Mar 26, 2010 Source:SMM

SHANGHAI, Mar. 26 (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. 25th    
2,240
-32
56,382
221,296
542,375

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. 25th                  
18,160
18,255
18,342
1:6.8268

 
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. 25th                 
18,400
18,310
18,627
17,735

Summary

The US unemployment rate was better than expected, and the Federal Reserve said it is reasonable to maintain interest rate at exceptional low, and market confidence in economic recovery and commodity consumption improved in response, booting metal markets. LME zinc prices closed at USD 2,240/mt on Thursday, again standing above the 5-day moving average line, with limited support at USD 2,200/mt. LME zinc prices are expected to move in the USD 2,210-2,280/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

Key Words:  Market movement  zinc price  zinc Zn 

SMM Morning Review - 2010/3/26 Zinc Market

SMM Insight 10:17:16AM Mar 26, 2010 Source:SMM

SHANGHAI, Mar. 26 (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. 25th    
2,240
-32
56,382
221,296
542,375

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. 25th                  
18,160
18,255
18,342
1:6.8268

 
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. 25th                 
18,400
18,310
18,627
17,735

Summary

The US unemployment rate was better than expected, and the Federal Reserve said it is reasonable to maintain interest rate at exceptional low, and market confidence in economic recovery and commodity consumption improved in response, booting metal markets. LME zinc prices closed at USD 2,240/mt on Thursday, again standing above the 5-day moving average line, with limited support at USD 2,200/mt. LME zinc prices are expected to move in the USD 2,210-2,280/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

Key Words:  Market movement  zinc price  zinc Zn