Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

SHMET Spot Market Briefing 20100702-Lead

Shanghai Spot Metal Quote (SHMET) More
Jul 02 2010
Metals Price(RMB/T) Change b/c
Copper 52200-52550 0 b 150/b 250
Aluminum 14510-14550 +50 c 20/b 20
Lead 14500-14700 -100  
1#Zinc 14550-14650 +100 c 195/c 95
0#Zinc 14600-14700 +100 c 145/c 45
Tin 137500-139500 -500  
Nickel 151500-152500 -1500  


 

Lead
China’s spot Lead is quoted from RMB 14500 to 14700 per tonne, down RMB 100 per tonne. Although LME Lead was flat yesterday, the dropping domestic PMI index made insiders pessimistic for the prospect of economic development. Sellers are willing to move down price to sell goods. Owing to the weekend today, the slaes is good on the market.

“ We have cut RMB 100 to sell cheaper Yunnan Lead at RMB 14500 per tonne today. July is a traditional low season. It’s hard to sell goods at present, so there are no traders stock goods even the price goes down.” Some lead trader said to SHMET.

“ The large environment on the spot market is not very good. Although there is no panic mood on the market now, many insiders are bearish to the near-future market. Under the bad situation, we will difficult to sell more goods, so we are active and hope that we can sell more cargos.” Another 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=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.