Tin-SHMET Spot Market Briefing20150825

Date Aug 25 2015 14:19:23Source:shmet
Aug.25,2015(SHMET)--LME tin was the biggest loser on LME metal board‭ ‬saw more than‭ ‬5.5%‭ ‬of it value evaporated to trade‭ ‬just above‭ ‬$14000.‭ ‬Metals price was hit by Chinese‭ ‬stock market crash as traders call it Black Monday‭ ‬with US and‭ ‬Europe stock market followed the panic‭ ‬selling saw hundreds of billions wiped off world's‭ ‬financials market today.‭ ‬Trading volume was robust‭ ‬with‭ ‬683‭ ‬lots changed hands on Select by‭ ‬5PM.‭ ‬Spread for Sep to Nov was tight again trading at‭ ‬150b.‭ ‬Shanghai spot tin was quoted at‭ ‬103500-105500‭ ‬rmbs per ton,‭ ‬down‭ ‬1500‭ ‬from‭ ‬yesterday.‭ ‬Yunxi was‭ ‬quoted at‭ ‬106000‭ ‬rmbs per ton,‭ ‬Yunxiang and Yunxiang were at‭ ‬104000-104500‭ ‬rmbs per ton,‭ ‬Nanshan and Weitai were at‭ ‬103500-104000‭ ‬rmbs per ton.‭ ‬The spot tin continued falling this morning,‭ ‬concerns on oversupply increasingly strengthened,‭ ‬which dragged the price of tin lower.‭ ‬The market sentiment was cautious and the selling wills was low.‭ ‬Meanwhile,‭ ‬downstream buyers were quite few.‭ ‬Only a small‭ ‬number of companies remained normal purchasing in limited‭ ‬volume.‭ Edited by SHMET

Zinc-SHMET Spot Market Briefing20150825

Date Aug 25 2015 14:18:50Source:shmet
LME three-month zinc closed at‭ ‬1707‭ ‬dollars per ton,‭ ‬down‭ ‬3.4%.‭ ‬Zinc fell victim along with the rest of the metal‭ ‬complex with the big sell-off in Chinese equities‭ ‬overnight that push the price‭ ‬down to a low of‭ ‬$1694‭ ‬the softest since June‭ ‬2010,‭ ‬the low prices‭ ‬started to attract forward buying.‭ ‬LME stocks‭ ‬-‭ ‬Rising stocks did little to improve sentiment‭ ‬– they‭ ‬jumped‭ ‬17,300‭ ‬tonnes to‭ ‬522,750‭ ‬tonnes,‭ ‬the‭ ‬highest since March‭ ‬20.Shanghai spot zinc‭ ‬0#‭ ‬was quoted at‭ ‬14790-14850‭ ‬rmbs per ton,‭ ‬up‭ ‬20‭ ‬with a back of‭ ‬345-405‭ ‬rmbs per ton‭; ‬1#‭ ‬zinc was quoted at‭ ‬14730-14790‭ ‬rmbs per ton,‭ ‬up‭ ‬20‭ ‬with a back of‭ ‬285-345‭ ‬rmbs per ton.‭ ‬Upstream had wills to sell while downstream remained on the sidelines continuously with brokers were active in purchasing.‭ ‬Overall trading slightly turned better.‭ ‬Shuangyan zinc were not many on the market.‭ ‬The supply were mostly ordinary‭ ‬0#‭ ‬zinc,‭ ‬Yuguang zinc.‭ 

Edited by SHMET

Lead-SHMET Spot Market Briefing20150825

Date Aug 25 2015 14:18:14Source:shmet
Aug.25,2015(SHMET)--Shanghai‭ ‬spot lead was quoted at‭ ‬13230-13350‭ ‬rmbs per ton,‭ ‬up‭ ‬30‭ ‬with a back of‭ ‬10-30‭ ‬rmbs per ton.‭ ‬LME lead price tumbled as much as‭ ‬4.7%‭ ‬to‭ ‬$1618.5‭ ‬on Monday as Chinese equity market selloff‭ ‬continued down‭ ‬8.5%,‭ ‬wiping out all their gains‭ ‬this year as fears of a slowdown in the China has‭ ‬spooked investors.‭ ‬Lead first plunged to‭ ‬$1635‭ ‬in‭ ‬Asia trading‭ ‬followed by range ranging before‭ ‬dropped further as US and European stock market‭ ‬followed‭ ‬China posting steep losses while investors‭ ‬fleeing from risky assets.‭ ‬Price then recovered some‭ ‬loss in the pm kerb trading as equity market stabilises.‭ ‬LME stock showed‭ ‬2075mt down in total with‭ ‬warrants continued to be sought in European location.‭ ‬SHFE lead‭ ‬faced downward pressure this week.‭ ‬Suggest for‭ ‬1510‭ ‬contract sell out‭ ‬at‭ ‬13200‭ ‬and protect‭ ‬above‭ ‬13300‭ ‬rmbs per ton.‭ ‬In domestic physical market,‭ ‬the commodity and global equity both fell,‭ ‬pessimistic sentiment made bearish sentiment heavier.‭ ‬Today,‭ ‬Hengbang was quoted at‭ ‬13290-13350‭ ‬rmbs per ton,‭ ‬Nanfang was quoted at‭ ‬13300‭ ‬rmbs per ton.‭ ‬The merchants were selling actively but the sales were not good.‭ ‬Downstream buying‭ ‬appetite‭ ‬was less and mostly stayed on the sidelines.‭ ‬Overall trading was light.Edited by SHMET

Aluminum-SHMET Spot Market Briefing20150825

Date Aug 25 2015 14:17:53Source:shmet
Aug.25,2015(SHMET)--Shanghai spot aluminum was quoted at‭ ‬11770-11830‭ ‬rmbs per ton,‭ ‬down‭ ‬10‭ ‬with a contango of‭ ‬90-30‭ ‬rmbs per ton.‭ ‬The quotations in‭ ‬Wuxi were at‭ ‬11780-11800‭ ‬rmbs per ton.‭ ‬LME aluminium fell to its lowest level since June‭ ‬2009‭ ‬of‭ ‬$1506‭ ‬after the sell-off in Chinese equities.‭ ‬The stock market in Asia continued to‭ ‬decline this morning with the‭ ‬Shanghai composite‭ ‬index shedding‭ ‬8.49‭ ‬percent to‭ ‬3,209.905.‭ ‬News out today from Industry figures that Loss-making aluminium smelters in‭ ‬China could idle another‭ ‬two to three million tonnes of annual capacity in‭ ‬coming months as metal prices trough at‭ ‬6‭ ‬1/2‭ ‬year-‭ ‬lows.‭ ‬SHFE aluminum was in weakness‭ ‬with‭ ‬volatility.‭ ‬In domestic‭ ‬physical market,‭ ‬poor terminal demand,‭ ‬oversupply and high inventory restricted the market,‭ ‬lead to an overall quiet trading condition.‭ ‬The falls in price of aluminum intensified the loss of cathode aluminum industry.‭ ‬Short‭ ‬term the oversupply‭ ‬was‭ ‬unlikely to ease.‭ ‬This morning,‭ ‬major quotations were at‭ ‬11780-11800‭ ‬rmbs per ton.Edited by SHMET

Copper-SHMET Spot Market Briefing20150825

Date Aug 25 2015 14:17:31Source:shmet
Aug.25,2015(SHMET)--Shanghai spot copper was quoted at‭ ‬39050-39200‭ ‬rmbs per ton,‭ ‬up‭ ‬650‭ ‬with trading from‭ ‬20c to‭ ‬40b rmbs per ton.‭ ‬Although it seemed that all metals were affected by‭ ‬the same fear there were some differences and if only‭ ‬in percentages.‭ ‬Copper only lost‭ ‬4%‭ ‬against Friday's‭ ‬close and Shanghai Futures moved to‭ ‬$170‭ ‬premium‭ ‬over LME for October.‭ ‬It looks like traders were too‭ ‬busy with other things rather than to look at this‭ ‬difference.‭ ‬At below‭ ‬$‭ ‬4900‭ ‬we saw some shy‭ ‬consumer buying but‭ ‬nervousness on stock market‭ ‬dampened sentiment.‭ ‬SHFE copper fluctuated higher this morning with most-traded contract breaking through‭ ‬39000‭ ‬rmbs per ton.‭ ‬In‭ ‬domestic‭ ‬physical market,‭ ‬current bearish sentiment impacted the trading,‭ ‬downstream purchasing wills was less and sellers lowered the prices in a bid to increase sales.‭ ‬Most‭ ‬buyers currently were brokers now.‭ ‬This morning,‭ ‬major quotations of high-level copper were at level-20b rmbs per ton.‭ Edited by SHMET