SMM Morning Review - 2010/5/7 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2010/5/7 Zinc Market

SMM Insight 10:12:55AM May 07, 2010 Source:SMM

SHANGHAI, May 7 (SMM) -- LME Market

 
Close
(USD/mt)
Premium/Discount
Volume
(lot)
Position
(lot)
Inventory
(mt)
3-mth Contract
Spot – 3 mth
Apr. Average
2,404
-33
68,089
238,375
545,240
May 6th
2,105
-33
69,509
246,021
572,475

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
May 6th                    
17,255
17,200
18,354
1:6.8269

 
Zinc – 3mth (RMB/mt)
Shanghai Spot
#0 Zinc Ingot
SHFE Close
Settlement
Weighted Ave.
Apr. 15th                 
19,225
19,280
18,677
18,600
May 6th                   
17,255
17,535
18,880
17,200

Summary

The US dollar advanced further to break through 85.0 last night, and both Nasdaq Composite Index and Dow Jones Industrial Average plunged as well, heavily weighing down metals markets. LME zinc prices closed at USD 2,105/mt last night, but remained on a downward track. SMM predicts SHFE three-month zinc contract prices will fluctuate between RMB 17,200-17,600/mt today, with special focus on the impact on futures markets from domestic stock markets.   

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 - 2010/5/7 Zinc Market

SMM Insight 10:12:55AM May 07, 2010 Source:SMM

SHANGHAI, May 7 (SMM) -- LME Market

 
Close
(USD/mt)
Premium/Discount
Volume
(lot)
Position
(lot)
Inventory
(mt)
3-mth Contract
Spot – 3 mth
Apr. Average
2,404
-33
68,089
238,375
545,240
May 6th
2,105
-33
69,509
246,021
572,475

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
May 6th                    
17,255
17,200
18,354
1:6.8269

 
Zinc – 3mth (RMB/mt)
Shanghai Spot
#0 Zinc Ingot
SHFE Close
Settlement
Weighted Ave.
Apr. 15th                 
19,225
19,280
18,677
18,600
May 6th                   
17,255
17,535
18,880
17,200

Summary

The US dollar advanced further to break through 85.0 last night, and both Nasdaq Composite Index and Dow Jones Industrial Average plunged as well, heavily weighing down metals markets. LME zinc prices closed at USD 2,105/mt last night, but remained on a downward track. SMM predicts SHFE three-month zinc contract prices will fluctuate between RMB 17,200-17,600/mt today, with special focus on the impact on futures markets from domestic stock markets.   

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