SMM Daily Review - 2012/2/24 Zinc Market-Shanghai Metals Market

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SMM Daily Review - 2012/2/24 Zinc Market

SMM Insight 09:09:16AM Feb 27, 2012 Source:SMM

SHANGHAI, Feb. 27 (SMM) -- Last Friday, SHFE three-month zinc contract prices opened at RMB 15,850/mt, touching RMB 15,965/mt in the morning session, but meeting resistance to fall below the moving average. As a large number of shorts sold goods in the midday, SHFE three-month zinc contract prices inched down in the afternoon to close at RMB 15,805/mt, down RMB 30/mt. Trading volumes increased by over 30,000 lots to 195,742 lots, and positions decreased by lots to 1,094 lots to 187,360 lots.

In domestic spot markets, #0 zinc prices were RMB 330-350/mt lower than SHFE three-month zinc contract prices, between RMB 15,500-15,550/mt, with transactions limited at the high end. #1 zinc was traded between RMB 15,450-15,500/mt. Downstream buyers were cautious, despite sufficient supply in the market, transactions were still muted.
 

Key Words:  zinc 

Price

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#1 Refined Cu
Apr.19
49430.0
-170.0
(-0.34%)
Yangshan Copper Premium(Bill of Lading)
Apr.19
51.5
0.0
(0.00%)
Yangshan Copper Premium(Warehouse Warrant)
Apr.19
50.5
0.0
(0.00%)
Imported Cu Concentrate TC(Cu≥26%,Week)
Apr.19
67.0
-1.5
(-2.19%)
Imported Cu Concentrate TC(Cu≥26%,Month)
Mar.29
73.5
-6.0
(-7.55%)

SMM Daily Review - 2012/2/24 Zinc Market

SMM Insight 09:09:16AM Feb 27, 2012 Source:SMM

SHANGHAI, Feb. 27 (SMM) -- Last Friday, SHFE three-month zinc contract prices opened at RMB 15,850/mt, touching RMB 15,965/mt in the morning session, but meeting resistance to fall below the moving average. As a large number of shorts sold goods in the midday, SHFE three-month zinc contract prices inched down in the afternoon to close at RMB 15,805/mt, down RMB 30/mt. Trading volumes increased by over 30,000 lots to 195,742 lots, and positions decreased by lots to 1,094 lots to 187,360 lots.

In domestic spot markets, #0 zinc prices were RMB 330-350/mt lower than SHFE three-month zinc contract prices, between RMB 15,500-15,550/mt, with transactions limited at the high end. #1 zinc was traded between RMB 15,450-15,500/mt. Downstream buyers were cautious, despite sufficient supply in the market, transactions were still muted.
 

Key Words:  zinc