SMM Morning Review - 2010/7/12 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2010/7/12 Zinc Market

SMM Insight 09:39:36AM Jul 12, 2010 Source:SMM

SHANGHAI, July 12 (SMM) -- Investors remained optimistic toward Chinese demand before the release of China's imports and exports of copper and aluminum in June, and LME base metals prices edged higher as a result, with LME zinc prices climbing to as high as USD 1,904/mt and finally closing at USD 1,880/mt.

China's imports of copper and aluminum in June slowed on a monthly basis based on customs data. China's imports of unwrought copper and copper semis were 328 kt during June, down 21% MoM, while China's imports of unwrought aluminum and aluminum semis were 75 kt during June, down 20% MoM. Actual demand failed to grow as expected, and SMM predicts SHFE zinc prices will fluctuate around the 5-day moving average today, with prices expected to struggle at RMB 15,500/mt.          

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 

SMM Morning Review - 2010/7/12 Zinc Market

SMM Insight 09:39:36AM Jul 12, 2010 Source:SMM

SHANGHAI, July 12 (SMM) -- Investors remained optimistic toward Chinese demand before the release of China's imports and exports of copper and aluminum in June, and LME base metals prices edged higher as a result, with LME zinc prices climbing to as high as USD 1,904/mt and finally closing at USD 1,880/mt.

China's imports of copper and aluminum in June slowed on a monthly basis based on customs data. China's imports of unwrought copper and copper semis were 328 kt during June, down 21% MoM, while China's imports of unwrought aluminum and aluminum semis were 75 kt during June, down 20% MoM. Actual demand failed to grow as expected, and SMM predicts SHFE zinc prices will fluctuate around the 5-day moving average today, with prices expected to struggle at RMB 15,500/mt.          

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