SMM Daily Review - 2012/2/28 Zinc Market-Shanghai Metals Market

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SMM Daily Review - 2012/2/28 Zinc Market

SMM Insight 09:14:05AM Feb 29, 2012 Source:SMM

SHANGHAI, Feb. 29 (SMM) -- On Tuesday, SHFE three-month zinc contract prices opened at RMB 15,980/mt, rising to struggle at RMB 16,000/mt level after opening. As the weakening US dollar index boosted LME zinc prices at noon, SHFE three-month zinc contract prices surged to RMB 16,140/mt in the afternoon, and finally closed at RMB 16,125/mt, up RMB 185/mt. Trading volumes increased by over 40,000 lots to 196,732 lots, and  positions increased by 7,746 lots to 194,288 lots.

In domestic spot markets, #0 zinc was traded between RMB 15,700-15,750/mt, with transactions made at the low end, and with discounts between RMB 340-370/mt against SHFE three-month zinc contract prices. #1 zinc was traded between RMB 15,650-15,700/mt. Downstream buyers purchased on an as-needed basis, while discounts expanded modestly as registered brands available in the market were limited.
 

Key Words:  zinc  

Price

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SMM #1 Nickel
Apr.22
101450.0
700.0
(0.69%)
#1 JinChuan Nickel
Apr.22
102400.0
850.0
(0.84%)
#1 Import Nickel
Apr.22
100500.0
550.0
(0.55%)
JinChuan B&C
Apr.22
2650.0
150.0
(6.00%)
Russian nickel premium
Apr.22
775.0
-100.0
(-11.43%)

SMM Daily Review - 2012/2/28 Zinc Market

SMM Insight 09:14:05AM Feb 29, 2012 Source:SMM

SHANGHAI, Feb. 29 (SMM) -- On Tuesday, SHFE three-month zinc contract prices opened at RMB 15,980/mt, rising to struggle at RMB 16,000/mt level after opening. As the weakening US dollar index boosted LME zinc prices at noon, SHFE three-month zinc contract prices surged to RMB 16,140/mt in the afternoon, and finally closed at RMB 16,125/mt, up RMB 185/mt. Trading volumes increased by over 40,000 lots to 196,732 lots, and  positions increased by 7,746 lots to 194,288 lots.

In domestic spot markets, #0 zinc was traded between RMB 15,700-15,750/mt, with transactions made at the low end, and with discounts between RMB 340-370/mt against SHFE three-month zinc contract prices. #1 zinc was traded between RMB 15,650-15,700/mt. Downstream buyers purchased on an as-needed basis, while discounts expanded modestly as registered brands available in the market were limited.
 

Key Words:  zinc