SMM Morning Review - 2010/5/19 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2010/5/19 Zinc Market

SMM Insight 10:11:16AM May 19, 2010 Source:SMM

SHANGHAI, May 19 (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 18th
1,910
-31
566,875
241,445
566,875

SHFE Market

 
Zinc – Spot Month (RMB/mt)
RMB/USD
SHFE Close
Settlement
Weighted Ave.
May 17th                
15,665
15,735
17,654
1:6.8275
May 18th                   
15,380
15,180
15,183
1:6.8276

 
Zinc – 3mth (RMB/mt)
Shanghai Spot
#0 Zinc Ingot
SHFE Close
Settlement
Weighted Ave.
May 17th               
15,970
16,165
18,713
15,700
May 18th                   
15,700
15,535
15,539
15,200

Summary

LME zinc prices regained some losses last night, with prices fluctuated higher from the USD 1,900/mt mark. LME zinc prices hit the highest level of USD 1,960/mt, and finally closed at USD 1,910/mt. However, zinc prices still moved at low levels recently, and will face great difficulty to climb further with the absence of clear market direction. The pessimism was stronger today in SHFE zinc market, and special attention should be paid to the support level of RMB 15,000/mt for SHFE 1008 zinc contract prices, as well as the impact on zinc prices from spot 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 - 2010/5/19 Zinc Market

SMM Insight 10:11:16AM May 19, 2010 Source:SMM

SHANGHAI, May 19 (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 18th
1,910
-31
566,875
241,445
566,875

SHFE Market

 
Zinc – Spot Month (RMB/mt)
RMB/USD
SHFE Close
Settlement
Weighted Ave.
May 17th                
15,665
15,735
17,654
1:6.8275
May 18th                   
15,380
15,180
15,183
1:6.8276

 
Zinc – 3mth (RMB/mt)
Shanghai Spot
#0 Zinc Ingot
SHFE Close
Settlement
Weighted Ave.
May 17th               
15,970
16,165
18,713
15,700
May 18th                   
15,700
15,535
15,539
15,200

Summary

LME zinc prices regained some losses last night, with prices fluctuated higher from the USD 1,900/mt mark. LME zinc prices hit the highest level of USD 1,960/mt, and finally closed at USD 1,910/mt. However, zinc prices still moved at low levels recently, and will face great difficulty to climb further with the absence of clear market direction. The pessimism was stronger today in SHFE zinc market, and special attention should be paid to the support level of RMB 15,000/mt for SHFE 1008 zinc contract prices, as well as the impact on zinc prices from spot 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