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SHMET Spot Market Briefing 20100707-Zinc

Shanghai Spot Metal Quote (SHMET) More
Jul 07 2010
Metals Price(RMB/T) Change b/c
Copper 53100-53350 +200 b 200/b 300
Aluminum 14660-14700 +40 c 30/b 10
Lead 14650-14850 +50  
1#Zinc 15000-15100 -50 c 135/c 35
0#Zinc 15050-15150 -50 c 85/b 15
Tin 138000-139500 +250  
Nickel 152000-153500 +1000  
 

Zinc
Shanghai 0#Zinc is quoted between RMB 15050 and 15150 per tonne, down RMB 50 per tonne, with trading from RMB 85 contango to 15 backwardation; 1#Zinc is quoted between RMB 15000 and 15100 per tonne, down RMB 50 per tonne, with trading from RMB 135 to 35 contango. SHFE Zinc neglected yesterday’s rising LME zinc and opened higher and then went lower. Spot zinc drifted lower and downstream consumers are unwilling to purchase goods. Most of them are still taking wait-and-see attitude toward to the market.

“ Owing to the changeable SHFE price, it’s difficult to quote spot price. So we have quoted price with flat before half past ten. After moving down the price, there are more inquiring calls and buyers. We have quoted regular 0#Zinc at RMB 15050 per tonne, and 1#Zinc has been reduced by RMB 40 per tonne.” Some zinc trader said to SHMET.

“ Zinc market was the best performer of all the base metals yestersay, but it is worst today, what can be seen that the overall market is still sensitive and fragile. Under the unstable condition, most downstream consumers are taking prudent attitude. We have sold more than 150 tonnes of goods. It’s moderate.” 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.


Shanghai Precious Metals Quote(SHMET) More
Jul 07 2010
Metals Price Change Units
1#Silver 4150-4160 +10 RMB/KG
2#Silver 4140-4150 +10 RMB/KG
3#Silver 4130-4140 +10 RMB/KG
Gold 260-260.8 +2.5 RMB/G
Platinum 345-348 +4 RMB/G
Palladium 109-111 +3 RMB/G