|Shanghai Spot Metal Quote (SHMET)||More|
|Jul 02 2010|
|Copper||52200-52550||0||b 150/b 250|
|Aluminum||14510-14550||+50||c 20/b 20|
|1#Zinc||14550-14650||+100||c 195/c 95|
|0#Zinc||14600-14700||+100||c 145/c 45|
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
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