SMM Zinc Market Daily Review (2013-2-1)-Shanghai Metals Market

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SMM Zinc Market Daily Review (2013-2-1)

Price Review & Forecast 09:22:04AM Feb 04, 2013 Source:SMM

SHANGHAI, Feb. 4 (SMM) - LME zinc prices overnight closed with declines. SHFE 1305 zinc contract prices opened flat at RMB 16,080/mt, and then fluctuated around RMB 16,050/mt. Due to mixed major economic data from China, SHFE 1305 zinc contract prices dipped to an intraday low of RMB 15,940/mt. As the Shanghai Composite soared to 2,421.15, SHFE 1305 zinc contract prices were boosted and struggled at RMB 16,060/mt in the afternoon, and closed at RMB 16,045/mt, down RMB 35/mt, or down 0.22%. Trading volumes of SHFE 1305 zinc contract decreased by 38,480 lots, to 153,840 lots, and total position increased by 7,674 lots to 177,604 lots.

SHFE three-month zinc contract prices inched down after opening flat today. Discounts of #0 zinc against SHFE 1305 zinc contract prices were between RMB 400-430/mt, with traded prices between RMB 15,580-15,610/mt. #1 zinc prices were RMB 15,530-15,550/mt. Smelters were not hurried to sell goods due to sufficient cash flows early in the month, while downstream buying interest was low, keeping transactions muted.


 

Price

more
#1 Tin Ingot
Dec.10
140250.0
1000.0
(0.72%)
LF Solder
Dec.10
147500.0
1000.0
(0.68%)
Solder Bar(63A)
Dec.10
101000.0
1000.0
(1.00%)
Solder Bar(60A)
Dec.10
97000.0
500.0
(0.52%)
Tin Powder
Dec.10
142.5
0.0
(0.00%)

SMM Zinc Market Daily Review (2013-2-1)

Price Review & Forecast 09:22:04AM Feb 04, 2013 Source:SMM

SHANGHAI, Feb. 4 (SMM) - LME zinc prices overnight closed with declines. SHFE 1305 zinc contract prices opened flat at RMB 16,080/mt, and then fluctuated around RMB 16,050/mt. Due to mixed major economic data from China, SHFE 1305 zinc contract prices dipped to an intraday low of RMB 15,940/mt. As the Shanghai Composite soared to 2,421.15, SHFE 1305 zinc contract prices were boosted and struggled at RMB 16,060/mt in the afternoon, and closed at RMB 16,045/mt, down RMB 35/mt, or down 0.22%. Trading volumes of SHFE 1305 zinc contract decreased by 38,480 lots, to 153,840 lots, and total position increased by 7,674 lots to 177,604 lots.

SHFE three-month zinc contract prices inched down after opening flat today. Discounts of #0 zinc against SHFE 1305 zinc contract prices were between RMB 400-430/mt, with traded prices between RMB 15,580-15,610/mt. #1 zinc prices were RMB 15,530-15,550/mt. Smelters were not hurried to sell goods due to sufficient cash flows early in the month, while downstream buying interest was low, keeping transactions muted.