SMM Morning Review - 2010/6/12 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2010/6/12 Zinc Market

SMM Insight 10:46:04AM Jun 12, 2010 Source:SMM

SHANGHAI, June 12 (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 11th
1,740
-29
70,855
252,376
617,125

SHFE Market

 
Zinc – Spot Month (RMB/mt)
RMB/USD
SHFE Close
Settlement
May 17th
15,665
15,735
1:6.8275
June 11th
14,150
14,135
1:6.8279

 

 
Zinc – 3mth (RMB/mt)
Shanghai Spot
#0 Zinc Ingot
SHFE Close
Settlement
May 17th
15,970
16,165
15,700
June 11th
14,380
14,325
14,200

Summary

According to the U.S. Department  of Commerce on Friday, May retail sales data on Friday fell by 1.2% over contract, while the previous expectation was a 0.2% increase. The Euro weakened after the lower-than-expected data released.  LME zinc prices fluctuated weakly between USD 1,710-1,770/mt on June 11th. Although prices climbed as high as USD 1,762/mt , finally closed at USD 1,740/mt, still meeting resistance at 10-day moving average. Any breakthrough of zinc price shall depend on its neighboring market movement.

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 Zn 

SMM Morning Review - 2010/6/12 Zinc Market

SMM Insight 10:46:04AM Jun 12, 2010 Source:SMM

SHANGHAI, June 12 (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 11th
1,740
-29
70,855
252,376
617,125

SHFE Market

 
Zinc – Spot Month (RMB/mt)
RMB/USD
SHFE Close
Settlement
May 17th
15,665
15,735
1:6.8275
June 11th
14,150
14,135
1:6.8279

 

 
Zinc – 3mth (RMB/mt)
Shanghai Spot
#0 Zinc Ingot
SHFE Close
Settlement
May 17th
15,970
16,165
15,700
June 11th
14,380
14,325
14,200

Summary

According to the U.S. Department  of Commerce on Friday, May retail sales data on Friday fell by 1.2% over contract, while the previous expectation was a 0.2% increase. The Euro weakened after the lower-than-expected data released.  LME zinc prices fluctuated weakly between USD 1,710-1,770/mt on June 11th. Although prices climbed as high as USD 1,762/mt , finally closed at USD 1,740/mt, still meeting resistance at 10-day moving average. Any breakthrough of zinc price shall depend on its neighboring market movement.

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 Zn