SMM Morning Review - 2010/6/4 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2010/6/4 Zinc Market

SMM Insight 10:10:31AM Jun 04, 2010 Source:SMM

SHANGHAI, June 4 (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 3rd  
1,770
-32
67,682
246,627
617,950

SHFE Market

 
Zinc – Spot Month (RMB/mt)
RMB/USD
SHFE Close
Settlement
May 17th
15,665
15,735
1:6.8275
June 3rd  
14,880
14,855
1:6.8280
 

 
Zinc – 3mth (RMB/mt)
Shanghai Spot
#0 Zinc Ingot
SHFE Close
Settlement
May 17th
15,970
16,165
15,700
June 3rd  
15,215
15,235
14,900

Summary

Concerns over China's tightening policies and the European debt problems weighed on base metals markets, while the US dollar index advanced to above 87 again, also causing metals prices to plunge. LME three-month zinc contract prices closed at the daily low of USD 1,770/mt on June 4th, and zinc prices still move on a downward track currently technically. SHFE zinc prices are expected to fall further to RMB 14,500/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 - 2010/6/4 Zinc Market

SMM Insight 10:10:31AM Jun 04, 2010 Source:SMM

SHANGHAI, June 4 (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 3rd  
1,770
-32
67,682
246,627
617,950

SHFE Market

 
Zinc – Spot Month (RMB/mt)
RMB/USD
SHFE Close
Settlement
May 17th
15,665
15,735
1:6.8275
June 3rd  
14,880
14,855
1:6.8280
 

 
Zinc – 3mth (RMB/mt)
Shanghai Spot
#0 Zinc Ingot
SHFE Close
Settlement
May 17th
15,970
16,165
15,700
June 3rd  
15,215
15,235
14,900

Summary

Concerns over China's tightening policies and the European debt problems weighed on base metals markets, while the US dollar index advanced to above 87 again, also causing metals prices to plunge. LME three-month zinc contract prices closed at the daily low of USD 1,770/mt on June 4th, and zinc prices still move on a downward track currently technically. SHFE zinc prices are expected to fall further to RMB 14,500/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