SMM Morning Review - 2010/5/4 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2010/5/4 Zinc Market

SMM Insight 10:02:33AM May 04, 2010 Source:SMM

SHANGHAI, May 4 (SMM) -- LME Market 

 
Close
(USD/mt)
Premium/Discount
Volume
(lot)
Position
(lot)
Inventory
(mt)
3-mth Contract
Spot – 3 mth
Mar. Average
2,303
-29
59,027
222,256
540,753
May 3rd
Closed

SHFE Market

 
Zinc – Spot Month (RMB/mt)
RMB/USD
SHFE Close
Settlement
Weighted Ave.
Apr. 15th                
18,785
18,820
18,575
1:6.8260
Apr. 30th                     
18,000
17,940
18,464
1:6.8263

 
Zinc – 3mth (RMB/mt)
Shanghai Spot
#0 Zinc Ingot
SHFE Close
Settlement
Weighted Ave.
Apr. 15th                
19,225
19,280
18,677
18,600
Apr. 30th                     
18,365
18,325
18,963
17,840

Summary

LME market was closed on Monday, but the previous LME market performance was pessimistic, with LME copper and zinc prices falling below all moving averages. Technical indicators show LME metals prices will fluctuate lower in the short term. SHFE zinc prices will move at low levels today after opening, and SHFE three-month zinc contract prices will fluctuate narrowly above RMB 18,000/mt, and spot transactions will become the major driving force for zinc prices.  

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 - 2010/5/4 Zinc Market

SMM Insight 10:02:33AM May 04, 2010 Source:SMM

SHANGHAI, May 4 (SMM) -- LME Market 

 
Close
(USD/mt)
Premium/Discount
Volume
(lot)
Position
(lot)
Inventory
(mt)
3-mth Contract
Spot – 3 mth
Mar. Average
2,303
-29
59,027
222,256
540,753
May 3rd
Closed

SHFE Market

 
Zinc – Spot Month (RMB/mt)
RMB/USD
SHFE Close
Settlement
Weighted Ave.
Apr. 15th                
18,785
18,820
18,575
1:6.8260
Apr. 30th                     
18,000
17,940
18,464
1:6.8263

 
Zinc – 3mth (RMB/mt)
Shanghai Spot
#0 Zinc Ingot
SHFE Close
Settlement
Weighted Ave.
Apr. 15th                
19,225
19,280
18,677
18,600
Apr. 30th                     
18,365
18,325
18,963
17,840

Summary

LME market was closed on Monday, but the previous LME market performance was pessimistic, with LME copper and zinc prices falling below all moving averages. Technical indicators show LME metals prices will fluctuate lower in the short term. SHFE zinc prices will move at low levels today after opening, and SHFE three-month zinc contract prices will fluctuate narrowly above RMB 18,000/mt, and spot transactions will become the major driving force for zinc prices.  

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