SMM Daily Review - 2012/5/11 Zinc Market-Shanghai Metals Market

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SMM Daily Review - 2012/5/11 Zinc Market

SMM Insight 09:27:31AM May 14, 2012 Source:SMM

SHANGHAI, May 14 (SMM) -- Last Friday, SHFE three-month zinc contract prices opened lower at RMB 15,295/mt and plummeted to the moving average in the morning session. China's CPI for April fell in line with expectations, but SHFE three-month zinc contract prices only rallied to the moving average and dipped to a record low for the year, and finally closed at RMB 15,115/mt, down RMB 180/mt or 1.18%. Trading volumes increased by over 8,000 lots to 144,326 lots, and total position increased by 334 lots to 166,804 lots.

In domestic spot markets, discounts of #0 zinc against SHFE three-month zinc contract prices narrowed to RMB 100/mt, with traded prices between RMB 15,100-15,130/mt. Spot prices were very firm. #1 zinc prices were around RMB 15,100/mt. Downstream buying interest was low, and traders dared not replenish stocks, keeping transactions quiet.
 

Key Words:  zinc contract prices  

Price

more
62% Fe Fines (Qingdao Port): IOPI62
Sep.19
759.0
-24.0
(-3.07%)
62% Fe Fines (Qingdao Port, CFR Equiv.)
Sep.19
99.4
-3.3
(-3.18%)
58% Fe Fines (Qingdao Port): IOPI58
Sep.19
700.0
-13.0
(-1.82%)
58% Fe Fines (Qingdao Port, CFR Equiv.)
Sep.19
92.4
-1.8
(-1.90%)
65% Fe Fines (Qingdao Port): IOPI65
Sep.19
814.0
-20.0
(-2.40%)

SMM Daily Review - 2012/5/11 Zinc Market

SMM Insight 09:27:31AM May 14, 2012 Source:SMM

SHANGHAI, May 14 (SMM) -- Last Friday, SHFE three-month zinc contract prices opened lower at RMB 15,295/mt and plummeted to the moving average in the morning session. China's CPI for April fell in line with expectations, but SHFE three-month zinc contract prices only rallied to the moving average and dipped to a record low for the year, and finally closed at RMB 15,115/mt, down RMB 180/mt or 1.18%. Trading volumes increased by over 8,000 lots to 144,326 lots, and total position increased by 334 lots to 166,804 lots.

In domestic spot markets, discounts of #0 zinc against SHFE three-month zinc contract prices narrowed to RMB 100/mt, with traded prices between RMB 15,100-15,130/mt. Spot prices were very firm. #1 zinc prices were around RMB 15,100/mt. Downstream buying interest was low, and traders dared not replenish stocks, keeping transactions quiet.
 

Key Words:  zinc contract prices