SMM Daily Review - 2012/6/14 Zinc Market-Shanghai Metals Market

Hot Keywords

  • Zinc
  • Alumina
  • Aluminium
  • Steel
  • Copper scrap
  • Copper
  • Market commentary
  • Morning comments
  • Futures movement
  • Lead
  • Nickel
  • Evening comments
  • price
  • Inventory data
  • price forecast

SMM Daily Review - 2012/6/14 Zinc Market

SMM Insight 09:26:33AM Jun 15, 2012 Source:SMM

SHANGHAI, Jun. 15 (SMM) -- On Thursday, SHFE 1209 zinc contract prices opened at RMB 14,780/mt and fluctuated between RMB 14,750-14,780/mt. As the end of trading, as the US dollar index plunged, SHFE 1209 zinc contract prices climbed and touched an intraday high of RMB 14,845/mt, fluctuating between RMB 14,800-14,830/mt. At the end of trading, SHFE 1209 zinc contract prices rolled back previous gains due to the weak Shanghai Composite Index, and finally closed at RMB 14,770/mt, down RMB 20/mt or 0.14%. Trading volumes increased by 704 lots to 55,318 lots, and total position decreased by 2,914 lots to 166,032 lots.

In domestic spot markets, discounts of #0 zinc against SHFE three-month zinc contract prices were RMB 70-80/mt, with traded prices between RMB 14,680-14,690/mt. As SHFE zinc prices rose in the midday, discounts of #0 zinc expanded to RMB 80-120/mt, with traded prices between RMB 14,690-14,700/mt. #1 zinc was quoted between RMB 14,650-14,680/mt. Inquiries increased as traders arbitraged with higher zinc prices, and most transactions were made among traders of registered brands. But downstream buying interest was low. Spot markets were quiet while SHFE zinc prices rose, with investors remaining cautious.
 

Key Words:  SHFE zinc prices  

SMM Daily Review - 2012/6/14 Zinc Market

SMM Insight 09:26:33AM Jun 15, 2012 Source:SMM

SHANGHAI, Jun. 15 (SMM) -- On Thursday, SHFE 1209 zinc contract prices opened at RMB 14,780/mt and fluctuated between RMB 14,750-14,780/mt. As the end of trading, as the US dollar index plunged, SHFE 1209 zinc contract prices climbed and touched an intraday high of RMB 14,845/mt, fluctuating between RMB 14,800-14,830/mt. At the end of trading, SHFE 1209 zinc contract prices rolled back previous gains due to the weak Shanghai Composite Index, and finally closed at RMB 14,770/mt, down RMB 20/mt or 0.14%. Trading volumes increased by 704 lots to 55,318 lots, and total position decreased by 2,914 lots to 166,032 lots.

In domestic spot markets, discounts of #0 zinc against SHFE three-month zinc contract prices were RMB 70-80/mt, with traded prices between RMB 14,680-14,690/mt. As SHFE zinc prices rose in the midday, discounts of #0 zinc expanded to RMB 80-120/mt, with traded prices between RMB 14,690-14,700/mt. #1 zinc was quoted between RMB 14,650-14,680/mt. Inquiries increased as traders arbitraged with higher zinc prices, and most transactions were made among traders of registered brands. But downstream buying interest was low. Spot markets were quiet while SHFE zinc prices rose, with investors remaining cautious.
 

Key Words:  SHFE zinc prices