SMM Morning Review - 2010/5/14 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2010/5/14 Zinc Market

SMM Insight 10:36:04AM May 14, 2010 Source:SMM

SHANGHAI, May 14 (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 13th
2,160
-31
69,447
246,972
570,350

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 13th                   
16,590
16,435
17,779
1:6.8272

 
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 13th                    
16,930
16,770
18,734
16,400

Summary

The US dollar continued to strengthen last night, but the growing investor confidence in economic recovery and steady declines in LME metal inventories helped LME zinc prices to jump above the 10-day moving average following rising LME copper prices, with prices finally ending at USD 2,160/mt, and the low-end of zinc price range is expected to climb. SMM predicts SHFE three-month zinc contract prices will fluctuate higher slightly today, with special focus on the support from spot markets for SHFE 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 - 2010/5/14 Zinc Market

SMM Insight 10:36:04AM May 14, 2010 Source:SMM

SHANGHAI, May 14 (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 13th
2,160
-31
69,447
246,972
570,350

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 13th                   
16,590
16,435
17,779
1:6.8272

 
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 13th                    
16,930
16,770
18,734
16,400

Summary

The US dollar continued to strengthen last night, but the growing investor confidence in economic recovery and steady declines in LME metal inventories helped LME zinc prices to jump above the 10-day moving average following rising LME copper prices, with prices finally ending at USD 2,160/mt, and the low-end of zinc price range is expected to climb. SMM predicts SHFE three-month zinc contract prices will fluctuate higher slightly today, with special focus on the support from spot markets for SHFE 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