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

Hot Keywords

  • Inventory data
  • NPI
  • Zinc
  • hydrogen stations
  • Macroeconomics
  • Market commentary
  • Copper
  • Production data
  • Morning comments
  • Stainless steel
  • Aluminium
  • Mengtai Group
  • Iron ore
  • trade negotiations
  • thép

SMM Daily Review - 2012/2/15 Zinc Market

SMM Insight 09:10:59AM Feb 16, 2012 Source:SMM

SHANGHAI, Feb. 16 (SMM) -- On Wednesday, SHFE 1205 zinc contract prices opened at RMB 15,950/mt, falling to the 20-day moving average in the morning session. Boosted by the Shanghai Composite Index, SHFE 1205 zinc contract prices gained back previous losses after dipping to an intraday low RMB 15,875/mt, touching RMB 16,080/mt in the afternoon. But as a large number of longs left the market with profit-taking, SHFE three-month zinc contract prices rolled back intraday gains to close at RMB 15,945/mt, down RMB 20/mt.

In domestic spot markets, spot discounts against SHFE 1205 zinc contract prices were RMB 300/mt, with spot prices between RMB 15,550-15,600/mt. As SHFE zinc prices rose, spot discounts expanded to RMB 340-350/mt, and traded prices were pushed up to RMB 15,650-15,700/mt, while #1 zinc was traded between RMB 15,500-15,570/mt. A large number of traders entered the market but downstream buyers were cautious, keeping transactions quiet.
 

Key Words:  zinc 

Price

more
Silicon Metal East China (553#)
Oct.14
10450.0
50.0
(0.48%)
Silicon Metal East China (553# with Oxygen)
Oct.14
11100.0
50.0
(0.45%)
Silicon Metal East China (521#)
Oct.14
11450.0
0.0
(0.00%)
Silicon Metal East China (441#)
Oct.14
11400.0
0.0
(0.00%)
Silicon Metal East China (421#)
Oct.14
11700.0
0.0
(0.00%)

SMM Daily Review - 2012/2/15 Zinc Market

SMM Insight 09:10:59AM Feb 16, 2012 Source:SMM

SHANGHAI, Feb. 16 (SMM) -- On Wednesday, SHFE 1205 zinc contract prices opened at RMB 15,950/mt, falling to the 20-day moving average in the morning session. Boosted by the Shanghai Composite Index, SHFE 1205 zinc contract prices gained back previous losses after dipping to an intraday low RMB 15,875/mt, touching RMB 16,080/mt in the afternoon. But as a large number of longs left the market with profit-taking, SHFE three-month zinc contract prices rolled back intraday gains to close at RMB 15,945/mt, down RMB 20/mt.

In domestic spot markets, spot discounts against SHFE 1205 zinc contract prices were RMB 300/mt, with spot prices between RMB 15,550-15,600/mt. As SHFE zinc prices rose, spot discounts expanded to RMB 340-350/mt, and traded prices were pushed up to RMB 15,650-15,700/mt, while #1 zinc was traded between RMB 15,500-15,570/mt. A large number of traders entered the market but downstream buyers were cautious, keeping transactions quiet.
 

Key Words:  zinc