SMM Morning Review - 2010/6/3 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2010/6/3 Zinc Market

SMM Insight 10:25:20AM Jun 03, 2010 Source:SMM

SHANGHAI, June 3 (SMM) -- LME Market 

 
Close
(USD/mt)
Premium/Discount
Volume
(lot)
Position
(lot)
Inventory
(mt)
3-mth Contract
Spot – 3 mth
May Average
1,996
-31
75,192
242,444
579,930
June 2nd  
1,810
-33
77,161
246,026
618,825

SHFE Market

 
Zinc – Spot Month (RMB/mt)
RMB/USD
SHFE Close
Settlement
May 17th
15,665
15,735
1:6.8275
June 2nd
14,960
14,920
1:6.8281
 

 
Zinc – 3mth (RMB/mt)
Shanghai Spot
#0 Zinc Ingot
SHFE Close
Settlement
May 17th
15,970
16,165
15,700
June 2nd  
15,335
15,515
15,100

Summary

LME zinc prices slumped to as low as USD 1,779/mt on June 2nd, but later regained some losses supported by rebounding stock markets, and LME three-month zinc contract prices finally closed above USD 1,800/mt. However, zinc prices were still on a downward track, and are expected to remain weak in the near term. SMM predicts domestic spot zinc prices will test the support level of RMB 15,000/mt today.         

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:  zinc price  zinc Zn 

Price

more
#1 Refined Cu
Apr.19
49430.0
-170.0
(-0.34%)
Yangshan Copper Premium(Bill of Lading)
Apr.19
51.5
0.0
(0.00%)
Yangshan Copper Premium(Warehouse Warrant)
Apr.19
50.5
0.0
(0.00%)
Imported Cu Concentrate TC(Cu≥26%,Week)
Apr.19
67.0
-1.5
(-2.19%)
Imported Cu Concentrate TC(Cu≥26%,Month)
Mar.29
73.5
-6.0
(-7.55%)

SMM Morning Review - 2010/6/3 Zinc Market

SMM Insight 10:25:20AM Jun 03, 2010 Source:SMM

SHANGHAI, June 3 (SMM) -- LME Market 

 
Close
(USD/mt)
Premium/Discount
Volume
(lot)
Position
(lot)
Inventory
(mt)
3-mth Contract
Spot – 3 mth
May Average
1,996
-31
75,192
242,444
579,930
June 2nd  
1,810
-33
77,161
246,026
618,825

SHFE Market

 
Zinc – Spot Month (RMB/mt)
RMB/USD
SHFE Close
Settlement
May 17th
15,665
15,735
1:6.8275
June 2nd
14,960
14,920
1:6.8281
 

 
Zinc – 3mth (RMB/mt)
Shanghai Spot
#0 Zinc Ingot
SHFE Close
Settlement
May 17th
15,970
16,165
15,700
June 2nd  
15,335
15,515
15,100

Summary

LME zinc prices slumped to as low as USD 1,779/mt on June 2nd, but later regained some losses supported by rebounding stock markets, and LME three-month zinc contract prices finally closed above USD 1,800/mt. However, zinc prices were still on a downward track, and are expected to remain weak in the near term. SMM predicts domestic spot zinc prices will test the support level of RMB 15,000/mt today.         

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:  zinc price  zinc Zn