SMM Morning Review - 2010/6/10 Zinc Market-Shanghai Metals Market

Hot Keywords

  • Zinc
  • Market commentary
  • Futures movement
  • Copper
  • Aluminium
  • Inventory data
  • Lead
  • Evening comments
  • Macroeconomics
  • MMi Iron Ore Port Index
  • Morning comments
  • Li-Ion Battery Cathode Material
  • Customs data
  • Silicon
  • Nickel

SMM Morning Review - 2010/6/10 Zinc Market

SMM Insight 10:38:10AM Jun 10, 2010 Source:SMM

SHANGHAI, June 10 (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 9th 
1,755
-32
89,261
254,971
616,325

SHFE Market

 
Zinc – Spot Month (RMB/mt)
RMB/USD
SHFE Close
Settlement
May 17th
15,665
15,735
1:6.8275
June 9th
14,000
13,795
1:6.8282
 

 
Zinc – 3mth (RMB/mt)
Shanghai Spot
#0 Zinc Ingot
SHFE Close
Settlement
May 17th
15,970
16,165
15,700
June 9th  
14,305
14,025
13,400

Summary

The US dollar index fell to 87.4 from 88, coupled with bullish China's export data in May, pushing up LME metals prices on June 9th. LME zinc prices advanced to as high as USD 1,785/mt, touching the 10-day moving average, with prices finally ending at USD 1,755/mt. Large amounts of long positions entered the market, driving up SHFE zinc prices to the daily price limits yesterday. Special attention should be paid to the ratio of long and short positions and China's May import and export data 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 - 2010/6/10 Zinc Market

SMM Insight 10:38:10AM Jun 10, 2010 Source:SMM

SHANGHAI, June 10 (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 9th 
1,755
-32
89,261
254,971
616,325

SHFE Market

 
Zinc – Spot Month (RMB/mt)
RMB/USD
SHFE Close
Settlement
May 17th
15,665
15,735
1:6.8275
June 9th
14,000
13,795
1:6.8282
 

 
Zinc – 3mth (RMB/mt)
Shanghai Spot
#0 Zinc Ingot
SHFE Close
Settlement
May 17th
15,970
16,165
15,700
June 9th  
14,305
14,025
13,400

Summary

The US dollar index fell to 87.4 from 88, coupled with bullish China's export data in May, pushing up LME metals prices on June 9th. LME zinc prices advanced to as high as USD 1,785/mt, touching the 10-day moving average, with prices finally ending at USD 1,755/mt. Large amounts of long positions entered the market, driving up SHFE zinc prices to the daily price limits yesterday. Special attention should be paid to the ratio of long and short positions and China's May import and export data 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