|Shanghai Spot Metal Quote (SHMET)||More|
|Jun 04 2010|
|Copper||49800-50150||-50||b 50/b 250|
|Aluminum||13790-13830||-50||c 20/b 20|
|1#Zinc||13300-13400||-250||c 215/c 115|
|0#Zinc||13350-13450||-250||c 165/c 65|
China's spot Lead is quoted from RMB 13700 to 13900 per tonne, decreasing RMB 300 per tonne. Seen from the international aspects, although Hungary has denied the speech of trapping in sovereign debt crisis, it has put great pressure to the weak market and LME metal market has been dragged down by it to drift lower. On the spot market, there are many sellers selling goods at lower price, but little people went to purchase them.
“ We could sell more than 120 tonnes of goods each day in the past two weeks, but we only have sold less than 80 tonnes of goods this week. We are willing to sell Jinsha Lead at RMB 13700 per tonne. It can be seen that lower price can’t attract buyers now.” Some lead trader said to SHMET.
“ Downstream consumers are unwilling to purchase goods. The market is on the downgrade, so they increased cautiousness on the market. We think if the price go higher, it is likely that more buyers will come to purchase. But according to the trend, whether the price will rebound is still a question.” Another lead trader said to SHMET.
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SHMET History Data for the Metal (from2001 to 2010) please visit at http://en.shmet.com/Data/Data.aspx?metal=3&year=2010
The Most authoritative non-ferrous metals index in China—SHMETX please check: http://en.shmet.com/PriceIndex/Shmetx.aspx
Shanghai Metal Price Index, “SHMETX” for short, reflects non-ferrous metals’ spot prices of Shanghai comprehensively, compiled and published by Shanghai Metals Exchange (“SHMET”). Its characteristics are objective, high-efficiency, professional, authoritative, etc. The average prices of sampling varieties can be the standard of quoting prices and reference inside and outside the industry.
Disclosure: no position