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SHMET Spot Market Briefing 20100304-Tin

Date Mar 04 2010 14:57:00Source:SHMET

Tin
China’s spot Tin is quoted between RMB 140500 and 141500 per tonne, up RMB 500 per tonne. Yun Tin is quoted around RMB 141500 per tonne, while other products are quoted at RMB 140500 per tonne. Although the prices rose slightly today, the transaction was moderate.

“ Recently, the weather is very drought in the south of China, and shortcoming in water and power has lasted for a long time. Without enough water and power supply, the smelters and fabricators which mainly produce the tin products in Yunnan and Guangxi province are still functioning. ” A trader said to SHMET.

“ Our sales in the AM session was pretty mild, and all the transacted products are on the second or third line, which were trading at 141000 yuan. Now the negotiation of Yunnan Tin is ongoing. We would like to complete this deal after the justified price emerges. ” Another trader said to SHMET.

SHMET Spot Market Briefing 20100304-Nickel

Date Mar 04 2010 14:56:27Source:SHMET

Nickel
China’s spot Nickel is quoted from RMB 161500 to 162500 per tonne, increasing RMB 1500 per tonne. Jinchuan Group raised its nickel prices to RMB 166000 per tonne, gaining RMB 3000. However the transaction was thin. It is reported that the traders who kept stocks at lower prices last year have begun to sell cargoes, as the price break RMB 1600000 level.
The supply-side of the market will be ample amid the still poor consumption.
 
“We quoted products at yesterday’s level with little upside momentum seen. Wenzhou-based traders appeared to sell a great number of cargoes at lower price, which limited the upside for the metal. ”A trader said to SHMET.

“Products for Jinchuan Nickel were quoted at RMB 162500 per tonne, while Import Nickel was quoted at RMB 162000 per tonne. The transaction was rather moderate as not many people wanted to buy. There is no transaction taking place. If Jinchuan Nickel is quoted at 162000 yuan, maybe some person will have interested in it. ”Another trader said to SHMET.

SHMET Spot Market Briefing 20100303-Nickel

Date Mar 03 2010 14:13:40Source:SHMET

Nickel
China’s spot Nickel is quoted from RMB 160000 to 161000 per tonne, increasing RMB 3000 per tonne. Products for Jinchuan Nickel are quoted at 161000 per tonne, while Russian Nickel is quoted at RMB 160000 per tonne. Jinchuan Group raised its nickel prices leading to offer prices moving higher in the morning. However the prevailing prices are traded below producers’ prices, due to the news of raising prices not being digested.

“ With the rising prices from Jinchuan Group and positive perspective for market, the transaction was more active today. We sold about 70 tonnages today. ” A trader said to SHMET. 

“ We sold Jinchuan Nickel at RMB 160500 per tonne in the AM session. The transaction was pretty good. We reckon that it would make further gains in the future. ” Another trader said to SHMET.

SHMET Spot Market Briefing 20100303-Tin

Date Mar 03 2010 14:12:38Source:SHMET

Tin
China’s spot Tin is quoted between RMB 140000 and 141000 per tonne, flat. Yun Tin is quoted around RMB 141000 per tonne, while other products are quoted at RMB 140000 per tonne. Market sentiment was depressed by the higher prices from mills yesterday, and therefore many traders are willing to keep stocks instead of selling cargoes with buyers’ cautiousness.

“ Yun Tin was quoted above RMB 140000 per tone, but the transacted price was at RMB 141000 per tonne. The transaction was thin. Due to the lower stocks, we would replenish stocks in these days. ” A trader said to SHMET.

“ We just sold few tonnes of Feidie Tin products at RMB 140000 per tonne in the AM session. The supply-side was in tight so that we estimated the prices would be higher in the afternoon. ” Another Tin trader said to SHMET.

SHMET Spot Market Briefing 20100303-Zinc

Date Mar 03 2010 14:11:12Source:SHMET

Zinc
Shanghai spot 1#Znic is quoted between RMB 17600 and 17700 per tonne, down RMB 250 per tonne, with trading from RMB 460 to 360 contango.0#Znic is quoted between RMB 17650 and 17750 per tonne, down RMB 250 per tonne, with trading from RMB 410 to 310 contango. The volume of SHFE Zinc yesterday was lower but positions increased, and prices moved lower with the overall trend. The metal continued to slide following the copper move. In terms of spot market, the transaction was rather moderate, in the case of no improvement emerging after the Chinese New Year holiday.

“ The zinc market seems to have not recovered from the weeklong holidays. We have analyzed recent trend, and the result is no signs of strong seasonals.” A trader said to SHMET.

“ The months after the New Year holiday are viewed as the crucial period. We quote 0# Zinc at 17700 yuan per tonne today. We still have an optimistic outlook, though the transaction has been lackluster for several days.” Anther trader told SHMET.