Metals News
SMM Morning Review - 2010/3/30 Zinc Market
smm insight
10:10AM
Source:SMM

SHANGHAI, Mar. 30 (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. 29th   
2,340
-30
62,963
221,073
542,250

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. 29th                  
18,510
18,465
18,321
1:6.8266

 
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. 29th                  
18,930
18,830
18,628
18,150

Summary

The US consumer spending has risen for five consecutive months, giving support to the market, and the growing purchases helped drive up metals prices on March 29th. LME copper prices advanced to a 19-month high, while LME zinc prices climbed slowly to USD 2,340/mt, with the price range edging up and trading volumes growing. SMM predicts SHFE zinc prices will continue to move higher today, and SHFE 1007 zinc contract prices will move in the RMB 18,800-19,400/mt range.  

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

 

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