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SMM Morning Review - 2010/3/26 Zinc Market
SHANGHAI, Mar. 26 (SMM) -- LME Market
|
|
Close
(USD/mt)
|
Premium/Discount
|
Volume
(lot)
|
Position
(lot)
|
Inventory
(mt)
|
|
3-mth Contract
|
Spot – 3 mth
|
||||
|
Feb. Average
|
2,179
|
-16
|
57,796
|
214,806
|
516,444
|
|
Mar. 25th
|
2,240
|
-32
|
56,382
|
221,296
|
542,375
|
SHFE Market
|
|
Zinc – Spot Month (RMB/mt)
|
RMB/USD
|
||
|
SHFE Close
|
Settlement
|
Weighted Ave.
|
||
|
Mar. 15th
|
17,960
|
17,970
|
18,224
|
1:6.8261
|
|
Mar. 25th
|
18,160
|
18,255
|
18,342
|
1:6.8268
|
|
|
Zinc – 3mth (RMB/mt)
|
Shanghai Spot
#0 Zinc Ingot
|
||
|
SHFE Close
|
Settlement
|
Weighted Ave.
|
||
|
Mar. 15th
|
18,315
|
18,420
|
18,247
|
17,950
|
|
Mar. 25th
|
18,400
|
18,310
|
18,627
|
17,735
|
Summary
The US unemployment rate was better than expected, and the Federal Reserve said it is reasonable to maintain interest rate at exceptional low, and market confidence in economic recovery and commodity consumption improved in response, booting metal markets. LME zinc prices closed at USD 2,240/mt on Thursday, again standing above the 5-day moving average line, with limited support at USD 2,200/mt. LME zinc prices are expected to move in the USD 2,210-2,280/mt range today.
To contact the writer on this report: monicagao@smm.cn
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