SMM Zinc Market Morning Review (2013-10-10)-Shanghai Metals Market

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SMM Zinc Market Morning Review (2013-10-10)

Price Review & Forecast 09:37:41AM Oct 10, 2013 Source:SMM

SHANGHAI, Oct. 10 (SMM) – LME zinc prices overnight opened at USD 1,884.5/mt. It was reported that US President Obama will nominate Janet Yellen as the next head of FRB, boosting LME zinc prices to USD 1,876/mt. but due to worries over a potential default on US debt, and combined with rebounding US dollar index, LME zinc prices shed some gains and closed at USD 1,886/mt. Trading volumes decreased by 1,508 lots, to 7,778 lots, and total positions increased by 5,954 lots, to 286,000 lots.

LME zinc prices are expected to move between USD 1,875-1,905/mt today, and SHFE 1401 zinc contract prices should hover between RMB 14,740-14,800/mt, with spot premiums between RMB 140-170/mt against SHFE 1312 zinc contract prices.
 

Key Words:  LME zinc prices  

Price

more
62% Fe Fines (Qingdao Port): IOPI62
May.27
787.0
29.0
(3.83%)
62% Fe Fines (Qingdao Port, CFR Equiv.)
May.27
106.0
4.2
(4.10%)
58% Fe Fines (Qingdao Port): IOPI58
May.27
666.0
22.0
(3.42%)
58% Fe Fines (Qingdao Port, CFR Equiv.)
May.27
90.0
3.2
(3.67%)
65% Fe Fines (Qingdao Port): IOPI65
May.27
881.0
15.0
(1.73%)

SMM Zinc Market Morning Review (2013-10-10)

Price Review & Forecast 09:37:41AM Oct 10, 2013 Source:SMM

SHANGHAI, Oct. 10 (SMM) – LME zinc prices overnight opened at USD 1,884.5/mt. It was reported that US President Obama will nominate Janet Yellen as the next head of FRB, boosting LME zinc prices to USD 1,876/mt. but due to worries over a potential default on US debt, and combined with rebounding US dollar index, LME zinc prices shed some gains and closed at USD 1,886/mt. Trading volumes decreased by 1,508 lots, to 7,778 lots, and total positions increased by 5,954 lots, to 286,000 lots.

LME zinc prices are expected to move between USD 1,875-1,905/mt today, and SHFE 1401 zinc contract prices should hover between RMB 14,740-14,800/mt, with spot premiums between RMB 140-170/mt against SHFE 1312 zinc contract prices.
 

Key Words:  LME zinc prices