Metals News
SMM Morning Review - 2010/3/29 Zinc Market
smm insight
10:53AM
Source:SMM

SHANGHAI, Mar. 29 (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. 26th   
2,235
-32
41,910
221,357
542,325

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. 26th                  
18,235
18,155
18,283
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. 26th                  
18,610
18,510
18,617
17,900

Summary

The European leaders reached an agreement on a rescue package for debt-laden Greece, and the Euro advanced against the US dollar as a result, and metals prices also climbed in response. LME zinc prices fluctuated, and closed at USD 2,235/mt, but showed passive performance in the USD 2,200-2,300/mt range recently. Transactions were brisk when spot zinc prices fell below RMB 18,000/mt, helping support zinc prices. SHFE 1006 zinc contract prices are expected to continue to move in the RMB 18,600-19,000/mt range today.  

To contact the writer on this report: monicagao@smm.cn

 

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