Comments

Zinc - SHMET Import Market Briefing

Date Nov 16 2017 17:28:59Source:SHMET

Zinc Premiums in Shanghai bonded and CIF shanghai saw no change, at $155-$165/mt and $160-$170/mt respectively. Today LME C-3m valued at $41.5B high while the SHFE Spot/LME 3M arb also retreated to around 8.03, the spot import loss to RMB878/mt and expanding loss slightly in forward market, around RMB1198/mt lost. Custom duty exempt brands, Australian and Korean, still generate quite a loss of RMB579/mt in spot import market, but may lose RMB901/mt in forward import.

Domestic zinc ingot market remains light although premium is still in a high level, which reflects that downstream demand and refinery’s supply maintain at a tight balance. Under the circumstances of a fall in import profit, foreign zinc almost has no transaction. Even the drop in zinc did not stimulate the recovery of consumption, with the market keeping stepping away in the future. Customers are mainly doing inquiries in the zinc premium market and the transactions are general.

 

 

 

 

 

Edited by SHMET

Aluminum - SHMET Import Market Briefing

Date Nov 16 2017 17:28:24Source:SHMET

Traders reported that spot premiums CIF shanghai remained at level $95-$115 as usual, so did the physical warrants. LME C-3m valued edged to $19.5C. SHFE Spot/LME 3M arb flattened out at 7.36, suggesting importing may lose around RMB1823/mt in spot market and RMB1723/mt in forward market.

The aluminum oxide price holds steady, the early cost supporting risk in the market has been released, with the main concern being in the inventories performance in the near period after the production limit. The hedge enthusiasm in upstream enterprises had a great pressure on rally. Electrolytic aluminum premium market sentiment remains weak, with no obvious increase in the trading volumes. Traders maintain stepping aside for the time being.

 

 

Edited by SHMET

Copper - SHMET Import Market Briefing

Date Nov 16 2017 17:27:42Source:SHMET

Premiums for CIF Shanghai stood at $65-$80while that for shanghai bonded warehouse flatted at $70-$82, a continuing component of previous re-stabilization. LME C-3m valued was $36.75C. SHFE Spot/LME 3M arb stayed steadily at around 7.87, with an import loss of RMB176/mt, whilst 3M SHFE/LME arb may lose RMB421/mt, with ratio of 7.85.

Data released by the National Bureau of Statistics on Tuesday showed that as the government stepped up its efforts to combat debt risks and curb factory pollution, china’s economy slowed further, with industrial output, fixed-asset investment and retail sales weaker than expected. The premium market is not active, with transactions having no apparent increase.

 

Edited by SHMET

Nickel - SHMET Import Market Briefing

Date Nov 15 2017 17:43:41Source:SHMET

With regards to NI FP, offers in Shanghai bonded zone keep standing at the range of $300-$360, and so does CIF delivery. The SHFE Spot/LME 3M arb for Russian NI was stable, at 8.08 and that for 3M SHFE/LME at 8.03, equated to a loss of RMB63/mt in spot and a loss of RMB1289/mt 3M forward.

With yesterday's sharp fall, today jinchuan company also reduce factory prices. Chinese economic data is weaker than expected, causing the worries about demand for industrial metals. Base metal prices fell across the board, with nickel price leading the complex lower. It is suggested to step aside for the time being. There is no obvious improvement in the nickel premium market.

Edited by SHMET

Zinc - SHMET Import Market Briefing

Date Nov 15 2017 17:43:07Source:SHMET

Zinc Premiums in Shanghai bonded and CIF shanghai saw no change, at $155-$165/mt and $160-$170/mt respectively. Today LME C-3m valued at $33B high while the SHFE Spot/LME 3M arb also retreated to around 8.03, the spot import loss to RMB781/mt and expanding loss slightly in forward market, around RMB1082/mt lost. Custom duty exempt brands, Australian and Korean, still generate quite a loss of RMB483/mt in spot import market, but may lose RMB784/mt in forward import.

Due to domestic exchange month and the big decline yesterday, domestic spot has a slight recovery, with the supply of some brands being tight. There is an outflow of in-warehouse goods, with a flat transaction in the downstream enterprises. Customers are mainly doing inquiries in the zinc premium market and the transactions are general.

 

 

Edited by SHMET
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