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SMM Morning Review - 2010/5/7 Zinc Market
SHANGHAI, May 7 (SMM) -- LME Market
|
|
Close
(USD/mt)
|
Premium/Discount
|
Volume
(lot)
|
Position
(lot)
|
Inventory
(mt)
|
|
3-mth Contract
|
Spot – 3 mth
|
||||
|
Apr. Average
|
2,404
|
-33
|
68,089
|
238,375
|
545,240
|
|
May 6th
|
2,105
|
-33
|
69,509
|
246,021
|
572,475
|
SHFE Market
|
|
Zinc – Spot Month (RMB/mt)
|
RMB/USD
|
||
|
SHFE Close
|
Settlement
|
Weighted Ave.
|
||
|
Apr. 15th
|
18,785
|
18,820
|
18,575
|
1:6.8260
|
|
May 6th
|
17,255
|
17,200
|
18,354
|
1:6.8269
|
|
|
Zinc – 3mth (RMB/mt)
|
Shanghai Spot
#0 Zinc Ingot
|
||
|
SHFE Close
|
Settlement
|
Weighted Ave.
|
||
|
Apr. 15th
|
19,225
|
19,280
|
18,677
|
18,600
|
|
May 6th
|
17,255
|
17,535
|
18,880
|
17,200
|
Summary
The US dollar advanced further to break through 85.0 last night, and both Nasdaq Composite Index and Dow Jones Industrial Average plunged as well, heavily weighing down metals markets. LME zinc prices closed at USD 2,105/mt last night, but remained on a downward track. SMM predicts SHFE three-month zinc contract prices will fluctuate between RMB 17,200-17,600/mt today, with special focus on the impact on futures markets from domestic stock markets.
To contact the writer on this report: monicagao@smm.cn
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