SHMET Spot Market Briefing 20100623-Lead

Date Jun 23 2010 14:27:27Source:SHMET
Jun.23,2010(SHMET)--China's spot Lead is quoted from RMB 14800 to 15000 per tonne, increasing RMB 200 per tonne. The American disappointing second-hand house data in May dragged down U.S stock market before it closed and have effect on the LME metal market. Although LME Lead closed at a lower level, it has held above 1800 dollars. The domestic spot lead price is very stable and the trading volume is superior to the mid-level.

“ Seen form the situation now, I think it is really very confused. No one knows how the trend will be, as both buyers and sellers are very calm. Buyers purchased goods according to requirement, and sellers sold goods actively.” Some lead trader said to SHMET.

“ We have sold 110 tonnes of Jinsha Lead at RMB 14900 per tonne today. The price is rational, but our trading volume is always moderate.” Another lead trader said to SHMET.

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SHMET Spot Market Briefing 20100623-Aluminum

Date Jun 23 2010 14:26:01Source:SHMET
Jun.23,2010(SHMET)-- China’s spot Aluminum is quoted from RMB 14550 and 14590 per tonne, losing RMB 10 per tonne, with trading from RMB 40 contango to flat. Seen from the fundamentals, global electrolytic aluminum output in May rose and created to be the highest since 2010. Judging from the output each day, electrolytic aluminum increased at a higher pace. It is expected that aluminum price won’t be better in the short-term.

“ The 20-days MA has put pressure to SHFE Aluminum. Downstream consumers are unwilling to purchase goods though aluminum price has dropped. Most of people came to inquire price but purchased them according to requirement. Our selling pressure is very large. The sales is thin.” An aluminum trader said to SHMET.

“ We have sold 500 tonnes of goods at RMB 14550 per tonne. Aluminum price is consolidating with the whole metal market. The quotation is very confused on the market, and sellers are holding bullish attitude toward to the market and sold goods at higher level. But downstream consumers are very prudent to purchase expensive goods.” Another spot trader said to SHMET.

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SHMET Spot Market Briefing 20100623-Copper

Date Jun 23 2010 14:24:23Source:SHMET
Jun.23,2010(SHMET)--China’s spot copper is quoted between RMB 53350 and 53800 per tonne, up RMB 350, with trading from 100 to 200 backwardation. Chinese copper production between January and May was slightly higher than last year, and import levels were flat with last year but further higher than two year ago. The stocks in SHFE increased sharply, reflecting the real consumption was later than economy growing. SHFE Copper will tend to drop further into dip in the mid-term.

“ SHFE Copper appeared to consolidate on the upside, indicating a bullish sentiment in the market. Copper price would stay on the current level for some times. We got more enquires. Since there would be more room for rises, we were not anxious to sell cargoes. ” A trader said to SHMET.

“ We sold 400 tonnages at RMB 53500 per tonne. The volumes were moderate. Most traders quoted price firmly. Little confidence was seen in the market, thus buying enthusiasm from downstream consumers was lower. Most buyers adopt a look-on attitude for the market. ” Another trader said to SHMET.      

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SHMET Spot Market Briefing 20100622-Nickel

Date Jun 22 2010 14:33:15Source:SHMET

China’s spot nickel is quoted between RMB 155000 and 156000 per tonne, gaining RMB 500. LME Nickel kept consolidate around $20000 recently, while it rushed higher and then falled today. The offer-price from traders was almost flat with yesterday’s in the AM session. Downstream consumers showed more enthusiasm to buy cargoes at lower price. 

“ Most traders bided Jinchuan nickel at RMB 155500 per tonne, whice our offer-price was at RMB 156000 per tonne. We weren’t willing to sell cargoes at lower price without sufficient stocks. ” A trader said to SHMET.     

“ There was more concerns on whether LME Nickel could stabilize above $20000. Few cargoes were completed at RMB 155500 per tonne for Jinchuan products, while RMB 155000 per tonne transacted more active. The transaction in the AM session was lackluster. ” Another trader said to SHMET.       

SHMET Spot Market Briefing 20100622-Tin

Date Jun 22 2010 14:32:49Source:SHMET

China’s spot Tin is quoted from RMB 139000 to 141000 per tonne,up RMB 250 per tonne. Yunnan Tin is quoted at RMB 141000 per tonne, and Yunshan Tin is quoted at RMB 140000 per tonne, while Yuta Tin is quoted at RMB 139500 per tonne, and Nanshan, Feidie, Kaiyuan tin quoted at RMB 139000 per tonne. The rising LME Tin overnight supported the sentiment of domestic tin market. There are many inquiring calls in the morning. More buyers came to purchase lower-grade brand tin.

“ We have sold 8 tonnes of Tianti Tin at RMB 141000 per tonne. The lowest quotation of Tianti Tin is at RMB 142000 per tonne. There are many inquiring calls in the morning, but we expected that the sales will center in the afternoon. The goods has great quality and downstream consumers are all willing to purchase them.” Some tin trader said to SHMET.

“ The tin below RMB 140000 per tonne was well sold on the market. But the stock is not enough, so the tin which was above RMB 140000 sold better than last week. We have quoted Jinhai Tin at RMB 140000 per tonne, and Yuta Tin was RMB 500 higher than yesterday at RMB 139500 per tonne.” Another tin trader said to SHMET.