SMM Morning Review - 2012/2/15 Zinc Market-Shanghai Metals Market

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SMM Morning Review - 2012/2/15 Zinc Market

SMM Insight 09:22:27AM Feb 15, 2012 Source:SMM

SHANGHAI, Feb. 15 (SMM) – Market concerns improved as eurozone finance ministers canceled the meeting in Brussels and held a teleconference instead, while US seasonally adjusted retail and catering service sales value in January rose 0.4% compared to last December, to USD 401.4 billion, compared to previous forecast of a 0.9% increase. In this context, the US dollar index rebounded to 79, weighing down LME zinc prices to close at USD 2,040/mt, down USD 28.5/mt. Whether or not Greece will finally receive bailout fund is dominating the market, and transactions were muted during Asian trading hours. SHFE three-month zinc contract prices should fall to move between RMB 15,750-16,050/mt today, with spot discounts between RMB 250-350/mt.
 

Key Words:  zinc prices 

Price

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SMM #1 Nickel
Apr.19
100750.0
-850.0
(-0.84%)
#1 JinChuan Nickel
Apr.19
101550.0
-675.0
(-0.66%)
#1 Import Nickel
Apr.19
99950.0
-1025.0
(-1.02%)
JinChuan B&C
Apr.19
2500.0
300.0
(13.64%)
Russian nickel premium
Apr.19
875.0
-75.0
(-7.89%)

SMM Morning Review - 2012/2/15 Zinc Market

SMM Insight 09:22:27AM Feb 15, 2012 Source:SMM

SHANGHAI, Feb. 15 (SMM) – Market concerns improved as eurozone finance ministers canceled the meeting in Brussels and held a teleconference instead, while US seasonally adjusted retail and catering service sales value in January rose 0.4% compared to last December, to USD 401.4 billion, compared to previous forecast of a 0.9% increase. In this context, the US dollar index rebounded to 79, weighing down LME zinc prices to close at USD 2,040/mt, down USD 28.5/mt. Whether or not Greece will finally receive bailout fund is dominating the market, and transactions were muted during Asian trading hours. SHFE three-month zinc contract prices should fall to move between RMB 15,750-16,050/mt today, with spot discounts between RMB 250-350/mt.
 

Key Words:  zinc prices