SHMET Spot Market Briefing 20100624-Lead

Date Jun 24 2010 16:25:33Source:SHMET

China’s spot Lead is quoted from RMB 14800 to 15000 per tonne, flat. The disappointing American new house data dragged down LME metal market. But LME Lead hasn’t got deep decline, so as to that the quotation is flat on the domestic spot lead market today. The sales is moderate.

“ The sales is worse than before. The uptrend a few days ago made factories come to purchase goods at a higher level. We could sell more than 200 tonnes of goods each day then. The enthusiasm has gone down since yesterday, and the sales is moderate today, which is more than 120 tonnes.” Some large trader said to SHMET.

“ We have quoted price at RMB 14900 per tonne. Our quotation is flat with yesterday’s.” Another lead trader said to SHMET,“ Nowaday, some downstream consumers came to ask me whether the drawback policy will have great effect on lead price or not. I told them that it must have effect on the market. But it’s hard to say how the range will be. Faced with the various of uncertain factories, most of traders are incline to wait for the near-future market and sell goods as much as possible.”

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SHMET Spot Market Briefing 20100624-Aluminum

Date Jun 24 2010 16:24:13Source:SHMET

China’s spot Aluminum is quoted from RMB 14650 and 14690 per tonne, increasing RMB 100 per tonne, with trading from RMB 100 to 60 contango. With the continuous growing of Chinese Aluminum output, there are plenteous aluminum at home and abroad specially in China, further more, it is likely that the output will increase in the future. Although getting benefit from good environment of economic recovery, as well as the demand has been increased, the market is still in the oversupplied condition. There is much pressure on the market in the future.

“ SHFE Aluminum has rebounded, and the sentiment on the market is more stable. Downstream consumers inquired price actively, and the sales is better than yesterday’s. Of course, there is still much oversupplied pressure on the market. We have sold much goods with the uptrend today.” An aluminum trader said to SHMET.

“ We have sold 600 tonnes of goods at RMB 14660 per tonne. The rising aluminum price made insiders’ attitude be divergent. Some people think aluminum price will go down in the near-future market, so they purchased goods according to requirement. Other are holding bullish attitude toward to market, so they are willing to purchase goods.” Another aluminum trader said to SHMET.

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SHMET Spot Market Briefing 20100624-Copper

Date Jun 24 2010 16:23:34Source:SHMET

China’s spot copper is quoted between RMB 53800 and 54150 per tonne, up RMB 350, with trading from 100 to 200 backwardation. Recently a series of data showed a slight slowdown in U.S. economic recovery, particularly lackluster of real estate and employment data. Although copper price is driven by China's exchange reform, but the room for gaining is limited. On the other hand, there is still uncertainty in the European economy and the sovereign debt crisis has not eased, which make the prospects for overseas demand is unclear.

“ Due to stronger momentum recently, copper price would continue its rally in the short-term. However the room for hiking was limited. We were more likely to sell cargoes in these days.Some traders were unwilling to sell import copper that was insufficient in the market. The volumes were almost flat with yesterday’s. ” A trader said to SHMET.

“ Copper products were completed at RMB 53950 per tonne, about 400 tonnages. We preferred to short-term investment amid consolidating momentum in the copper price. We anticipated that the price would between RMB 52000 and 55000 per tonne in the following days. ” Another trader said to SHMET.    

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SHMET Spot Market Briefing 20100623-Nickel

Date Jun 23 2010 14:31:24Source:SHMET
Jun.23,2010(SHMET)--LME Nickel closed slightly up overnight. China’s spot nickel is quoted between RMB 154000 and 155000 per tonne, dropping RMB 1000. Jinchuan nickel was quoted RMB 155500 per tonne with higher volumes in the AM session. Traders weren’t willing to sell cargoes at lower price. The highest offer-price was at RMB 156000 per tonne. However the volumes of Russia products were lackluster.

“ Jinchuan Group’s price was at RMB 153000 per tonne, while the offer-price from traders was between RMB 155000 and 156000 per tonne. We reckoned that Jinchuan Group would raise its price in the following days. LME Nickel kept consolidating in these days, which made pressure on the market. ” A trader said to SHMET.

“ We bought Jinchuan products about RMB 155000 per tonne early, which we sold to downstream buyers at RMB 155500 per tonne. Spot market was also following the momentum on the LME. However the transaction was pretty good in the AM session. As traders weren’t willing to sell cargoes at lower price, they offered price firmly. ” Another trader said to SHMET.

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SHMET Spot Market Briefing 20100623-Tin

Date Jun 23 2010 14:30:24Source:SHMET
Jun.23,2010(SHMET)--China’s spot Tin is quoted from RMB 139500 to 142000 per tonne, up RMB 750 per tonne. Yunnan Tin, Yunhen Tin and Tianti Tin are quoted at RMB 142000 per tonne. Yuta tin, Feidie Tin, Nanshan Tin and Kaiyuan Tin are quoted at RMB 139500 per tonne. The rainy season in South is unconvenient to the transportation. There are not many inquiring calls in the morning. Owing to lacking goods, lower-grade brand tin has gone higher.

“ Our quotation was lower last week, but now we quoted the price at a higher level. The lowest trading price of Yunhen Tin was at RMB 142000 per tonne. Only less of key accounts coould take the goods at RMB 141500 per tonne. We expect that the lowest price will be at RMB 142000 per tonne today. It couldn’t be cheaper.” Some smeltery said to SHMET.

“ Some one want to purchase Yunshan Tin in the morning, but we haven’t got the goods at RMB 140000 per tonne. Factories set price at a higher level now. It is said that Yunnan Tin couldn’t be bought at RMB 145000 per tonne.” Another tin trader said to SHMET.

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