SMM Morning Review - 2010/5/13 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2010/5/13 Zinc Market

SMM Insight 10:06:40AM May 13, 2010 Source:SMM

SHANGHAI, May 13 (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 12th
2,095
-31
94,410
243,813
570,875

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 12th                   
16,320
16,305
17,925
1:6.8271

 
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 12th                    
16,650
16,615
18,748
16,300

Summary

LME metals prices were mixed last night, and LME zinc prices reported significant declines early in the session, but later regained some previous losses following a weaker US dollar, and finally LME three-month zinc contract prices closed at USD 2,095/mt. However, market sentiment remains weak currently, and LME zinc prices are expected to continue to fluctuate. SMM predicts SHFE three-month zinc contract prices will move between RMB 16,600-17,000/mt today, with special focus on impact on futures market and market sentiment from domestic A-shares market.  

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 - 2010/5/13 Zinc Market

SMM Insight 10:06:40AM May 13, 2010 Source:SMM

SHANGHAI, May 13 (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 12th
2,095
-31
94,410
243,813
570,875

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 12th                   
16,320
16,305
17,925
1:6.8271

 
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 12th                    
16,650
16,615
18,748
16,300

Summary

LME metals prices were mixed last night, and LME zinc prices reported significant declines early in the session, but later regained some previous losses following a weaker US dollar, and finally LME three-month zinc contract prices closed at USD 2,095/mt. However, market sentiment remains weak currently, and LME zinc prices are expected to continue to fluctuate. SMM predicts SHFE three-month zinc contract prices will move between RMB 16,600-17,000/mt today, with special focus on impact on futures market and market sentiment from domestic A-shares market.  

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