Editorial

Spot lead price to increase 25 yuan/mt

Date Dec 06 2018 09:43:20Source:SHMET

SHANGHAI, Dec 6 (SHMET) – Spot lead price is expected to slightly increase 25 yuan/mt on December 6. SHFE lead consolidated at a high level. Spot trades remained low. SHFE lead 1812 contract/LME 3M ratio reached 9.54.

On December 5’s night trading hours, SHFE three month lead 1901 contract opened at 18,530 yuan/mt and finally closed at 18,580 yuan/mt, up 20 yuan/mt or 0.11% from a day earlier. Transactions reduced by 40,560 lots to 12,374 lots, and open interest increased by 566 lots to 56,096 lots.

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SHFE aluminum to continue to decline

Date Dec 06 2018 09:31:55Source:SHMET

SHANGHAI, Dec 6 (SHMET) – SHFE aluminum would continue to drop in the short run after a strong rebound earlier this week. Spot discount of aluminum against SHFE 3M aluminum would narrow to 40-30 yuan/mt in East China market on December 6, as futures price fell recently.

SHFE 1901 aluminum contract opened at 13,735 yuan/mt in yesterday’s night trading session, and closed at 13,710 yuan/mt, down 45 yuan/mt or 0.33%. Transactions stood at 36,660 lots, and position increased by 2,744 lots to 199,566 lots.

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Zinc price to remain strong

Date Dec 06 2018 09:20:27Source:SHMET

SHANGHAI, Dec 6 (SHMET) – Zinc price is likely to remain strong on December 6. SHFE zinc rose sharply above all moving averages on December 5’s night trading hours.

On December 5’s night trading hours, SHFE zinc three month 1901 contract opened at 21,245 yuan/mt and closed at 21,410 yuan/mt, up 225 yuan/mt or 1.06% from a day earlier. Transactions reached 175,874 lots, and open interest stood at 136,122 lots, with an increase of 4,012 lots.  

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Copper market sees brisk trades, spot premiums firm

Date Dec 05 2018 17:24:24Source:SHMET

SHANGHAI, Dec 5 (SHMET) – Trades in domestic spot copper market were brisk on Wednesday December 5. Prices held firm despite inflows of some imported goods. In the morning business, spot premiums for high-quality copper grew from 240 yuan/mt to 270 yuan/mt, and supplies of standard-quality copper were also sufficient. 

The eye-watching US bond yields are flattening, providing a rising momentum for Chinese currency. But, volatile currency market makes it difficult to judge its long-term movements. 

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SHFE zinc fluctuates amid unchanged fundamentals

Date Dec 05 2018 17:16:46Source:SHMET

SHANGHAI, Dec 5 (SHMET) – Recent focus shall be on potential corners triggered by the enduring high LME cash zinc premiums. SHFE zinc would continue to run on shock, as fundamentals had no significant change.

Trading of zinc was moderate today. In the morning trading session, some cargo holders were eager to sell and lowered premiums. In the second trading session, premiums quoted pulled back and tended to stabilize, but were still lower than yesterday’s.

Spot zinc prices were offered at 21,520-21,620 yuan/mt, down 110 yuan/mt from the previous trading day, and at a premium of 50-150 yuan/mt against SHFE 1812 zinc contract. 1# zinc was offered at 21,460-21,560 yuan/mt, down 110 yuan/mt from a day earlier, and at a premium of 10 yuan/mt to a discount of 90 yuan/mt against SHFE 1812 zinc contract. Shuangyan brand zinc ingots were offered at a premium of 500-530 yuan/mt against SHFE 1812 zinc contract.

For imported brands, AZ brand zinc ingots were offered at a premium around 100 yuan/mt against SHFE zinc 1812 contract. Indian zinc ingots were offered at a premium at 30 yuan/mt against SHFE 1812 zinc contract. Belgian zinc ingots were offered at a premium of 0-20 yuan/mt against SHFE 1812 zinc contract.

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