SMM Morning Review - 2010/3/29 Zinc Market-Shanghai Metals Market

Hot Keywords

  • Silicon
  • Inventory data
  • Nickel
  • Copper scrap
  • Zinc
  • Rare earth
  • Macroeconomics
  • MMi Iron Ore Port Index
  • Futures movement
  • Aluminium
  • Evening comments
  • Copper
  • provisional iron ore export permits
  • Production data
  • Market commentary

SMM Morning Review - 2010/3/29 Zinc Market

SMM Insight 10:53:43AM Mar 29, 2010 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

 

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 - 2010/3/29 Zinc Market

SMM Insight 10:53:43AM Mar 29, 2010 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

 

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