SMM Daily Review - 2011/1/5 Zinc Market-Shanghai Metals Market

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SMM Daily Review - 2011/1/5 Zinc Market

SMM Insight 09:34:34AM Jan 06, 2012 Source:SMM

SHAGNHAI, Jan. 6 (SMM) -- On Thursday, SHFE three-month zinc contract prices continued to fluctuate, with both longs and shorts leaving the market ahead of the Chinese New Year holiday. Finally, SHFE three-month zinc contract prices closed at RMB 14,865/mt, up RMB 20/mt. Trading volumes increased by 3,000 lots to 164,172 lots, and total position decreased by 5,292 lots to 201,276 lots.

In domestic spot markets, #0 zinc was traded between RMB 14,650-14,700/mt in the morning session, with discounts between negative RMB 130-150/MT. As SHFE zinc prices rose in the midday, spot discounts expanded to negative RMB 150-170/mt, and #1 zinc was traded between RMB 14,600-14,650/mt. Some downstream producers have cut output or suspended production for holiday, so transactions were muted.
 

Key Words:  zinc  

Price

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#1 Refined Cu
May.24
47010.0
210.0
(0.45%)
Standard-Grade Copper
May.24
46990.0
215.0
(0.46%)
High-Grade Copper
May.24
47030.0
210.0
(0.45%)
Guixi copper
May.24
47040.0
210.0
(0.45%)
Low-quality copper
May.24
46920.0
220.0
(0.47%)

SMM Daily Review - 2011/1/5 Zinc Market

SMM Insight 09:34:34AM Jan 06, 2012 Source:SMM

SHAGNHAI, Jan. 6 (SMM) -- On Thursday, SHFE three-month zinc contract prices continued to fluctuate, with both longs and shorts leaving the market ahead of the Chinese New Year holiday. Finally, SHFE three-month zinc contract prices closed at RMB 14,865/mt, up RMB 20/mt. Trading volumes increased by 3,000 lots to 164,172 lots, and total position decreased by 5,292 lots to 201,276 lots.

In domestic spot markets, #0 zinc was traded between RMB 14,650-14,700/mt in the morning session, with discounts between negative RMB 130-150/MT. As SHFE zinc prices rose in the midday, spot discounts expanded to negative RMB 150-170/mt, and #1 zinc was traded between RMB 14,600-14,650/mt. Some downstream producers have cut output or suspended production for holiday, so transactions were muted.
 

Key Words:  zinc