|Shanghai Spot Metal Quote (SHMET)||More|
|Jun 28 2010|
|Copper||54300-54700||+550||b 50/b 150|
|Aluminum||14690-14730||+70||c 90/c 50|
|1#Zinc||15100-15200||+150||c 240/c 140|
|0#Zinc||15150-15250||+150||c 190/c 90|
Shanghai 0#Zinc is quoted between RMB 15150 and 15250 per tonne, up RMB 150 per tonne, with trading from RMB 190 to 90 contango; 1#Zinc is quoted between RMB 15100 and 15200 per tonne, up RMB 150 per tonne, with trading from RMB 240 to 140 contango. Although the overseas economic data hasn’t added fuel to the flames for the rebounce on the market last Friday, the three consecutive weeks’ reduction in domestic zinc stock added weakness to the fundamentals. The spot zinc price went higher following SHFE price again today. The sales is thin. Because it’s low season now, it is normal.
“ The market is developing toward the better field generally. Though the fundamentals of zinc market is still the worst of all the non-ferrous metals, downstream consumers’ confidence will recover if market keeps upward trend and then the sales will be better.” Some zinc trader said to SHMET.
“ We have sold 180 tonnes of goods today. There are mostly 0#zinc and 1#zinc on the market now. We have quoted price at RMB 15200 per tonne, but most people are still hesitated to purchase goods now.” Another zinc trader said to SHMET.
Report by SHMET
More analysis please visit at http://en.shmet.com
SHMET History Data for the metal (from2001 to 2010) please visit at http://en.shmet.com/Data/Data.aspx?metal=6&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.