SMM Morning Review - 2010/6/25 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
  • Customs data
  • Silicon
  • Li-Ion Battery Cathode Material
  • Nickel

SMM Morning Review - 2010/6/25 Zinc Market

SMM Insight 10:10:47AM Jun 25, 2010 Source:SMM

SHANGHAI, June 25 (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 24th     
1,875.5
-33
52,977
245,527
616,950

SHFE Market

 
Zinc – Spot Month (RMB/mt)
RMB/USD
SHFE Close
Settlement
June 17th
14,060
14,300
1:6.8277
June 24th     
15,150
15,145
1:6.8100
 

 
Zinc – 3mth (RMB/mt)
Shanghai Spot
#0 Zinc Ingot
SHFE Close
Settlement
June 17th
14,295
14,420
14,225
June 24th   
15,345
15,340
15,125

Summary

The US initial claims for jobless benefits fell to 457,000 last week, lower than the estimate of 460,000. The US dollar index dipped from 86.0 to as low as 85.47, and base metals prices showed signs of rebounding in response. LME zinc prices finally closed at USD 1,880/mt, up 3%, and SMM expects LME zinc prices will hover around USD 1,890/mt in the short term. SHFE 1009 zinc contract prices received pressure at the 30-day moving average, and SMM predicts SHFE 1009 zinc contract prices will fluctuate between RMB 15,200-15,300/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
Aluminum Ingot
Apr.19
14050.0
40.0
(0.29%)
Alumina (Averaged)
Apr.19
2665.0
0.0
(0.00%)
Alumina-East
Apr.19
2680.0
0.0
(0.00%)
Alumina -Central
Apr.19
2670.0
0.0
(0.00%)
Alumina - North
Apr.19
2660.0
0.0
(0.00%)

SMM Morning Review - 2010/6/25 Zinc Market

SMM Insight 10:10:47AM Jun 25, 2010 Source:SMM

SHANGHAI, June 25 (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 24th     
1,875.5
-33
52,977
245,527
616,950

SHFE Market

 
Zinc – Spot Month (RMB/mt)
RMB/USD
SHFE Close
Settlement
June 17th
14,060
14,300
1:6.8277
June 24th     
15,150
15,145
1:6.8100
 

 
Zinc – 3mth (RMB/mt)
Shanghai Spot
#0 Zinc Ingot
SHFE Close
Settlement
June 17th
14,295
14,420
14,225
June 24th   
15,345
15,340
15,125

Summary

The US initial claims for jobless benefits fell to 457,000 last week, lower than the estimate of 460,000. The US dollar index dipped from 86.0 to as low as 85.47, and base metals prices showed signs of rebounding in response. LME zinc prices finally closed at USD 1,880/mt, up 3%, and SMM expects LME zinc prices will hover around USD 1,890/mt in the short term. SHFE 1009 zinc contract prices received pressure at the 30-day moving average, and SMM predicts SHFE 1009 zinc contract prices will fluctuate between RMB 15,200-15,300/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