SMM Morning Review - 2010/4/1 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2010/4/1 Zinc Market

SMM Insight 10:14:22AM Apr 01, 2010 Source:SMM

SHANGHAI, Apr. 1 (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. 31st    
2,370
-30
72,801
223,097
542,200

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. 31st                  
18,460
18,475
18,342
1:6.8263

 
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. 31st                   
18,795
18,880
18,640
18,075

Summary

The US dollar weakened on March 31st, and LME zinc prices advanced to as high as USD 2,410/mt in response, but finally closed at USD 2,370/mt affected by strong selling pressure. LME zinc prices still faced pressure at USD 2,400/mt after failing to move higher for three times. SHFE zinc prices showed passive performance amid sluggish spot transactions. SMM predicts SHFE 1007 zinc contract prices will move in the RMB 18,900-19,400/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 - 2010/4/1 Zinc Market

SMM Insight 10:14:22AM Apr 01, 2010 Source:SMM

SHANGHAI, Apr. 1 (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. 31st    
2,370
-30
72,801
223,097
542,200

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. 31st                  
18,460
18,475
18,342
1:6.8263

 
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. 31st                   
18,795
18,880
18,640
18,075

Summary

The US dollar weakened on March 31st, and LME zinc prices advanced to as high as USD 2,410/mt in response, but finally closed at USD 2,370/mt affected by strong selling pressure. LME zinc prices still faced pressure at USD 2,400/mt after failing to move higher for three times. SHFE zinc prices showed passive performance amid sluggish spot transactions. SMM predicts SHFE 1007 zinc contract prices will move in the RMB 18,900-19,400/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