SMM Morning Review - 2012/2/3 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2012/2/3 Zinc Market

SMM Insight 09:32:12AM Feb 03, 2012 Source:SMM

SHANGHAI, Feb. 3 (SMM) -- Markets remained cautious before the release of US non-farm payrolls due Friday. US data shows that initial jobless claims last week decreased by 12,000, to 367,000, slightly better than market expectations. LME zinc prices fell slightly below USD 2,100/mt last night and finally closed at USD 2,086.8/mt, down USD 30.8/mt. 

SMM predicts weak LME zinc prices last night will depress today’s SHFE zinc prices, expecting SHFE three-month zinc contract prices will move between RMB 15,600-15,900/mt, while spot discounts are expected to remain between RMB 250-350/mt. 

 

Key Words:  zinc Zn  zinc price 

Price

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Gold(99.99%)
Apr.19
279.4
1.3
(0.48%)
Gold(99.95%)
Apr.19
279.5
0.9
(0.33%)
#1 Silver(99.99%)
Apr.19
3511.0
10.0
(0.29%)
Silver(99.95%)
Apr.19
3496.0
10.0
(0.29%)
Silver(99.90%)
Apr.19
3481.0
10.0
(0.29%)

SMM Morning Review - 2012/2/3 Zinc Market

SMM Insight 09:32:12AM Feb 03, 2012 Source:SMM

SHANGHAI, Feb. 3 (SMM) -- Markets remained cautious before the release of US non-farm payrolls due Friday. US data shows that initial jobless claims last week decreased by 12,000, to 367,000, slightly better than market expectations. LME zinc prices fell slightly below USD 2,100/mt last night and finally closed at USD 2,086.8/mt, down USD 30.8/mt. 

SMM predicts weak LME zinc prices last night will depress today’s SHFE zinc prices, expecting SHFE three-month zinc contract prices will move between RMB 15,600-15,900/mt, while spot discounts are expected to remain between RMB 250-350/mt. 

 

Key Words:  zinc Zn  zinc price