SMM Metals Reports

SHFE Zinc Prices Finish with Gains (Oct. 22, 2014)

Tags: zinc prices
SHANGHAI, Oct. 22 (SMM) – SHFE 1412 zinc contract prices opened at RMB 16,250/mt Tuesday evening, then edged up with LME zinc prices, touching as high as RMB 16,380/mt, and closed at RMB 16,360/mt, up RMB 150/mt or 0.93%. Trading volumes increased 14,360 to 234,700 lots, and total positions increased 142 to 142,072 lots.
SHFE 1412 zinc contract prices opened at RMB 16,355/mt October 22, then rolled back some gains due to the exodus of longs, then hovered between RMB 16,300-16,340/mt. LME zinc prices leapt before the end of trading, but SHFE 1412 zinc contract price gains were extremely limited, and closed at RMB 16,355/mt, up RMB 145/mt or 0.89%. Trading volumes decreased 35,380, to 346,806 lots, and total positions were down 9,110 lots to 132,820 lots. SHFE 1412 zinc contract prices are expected to rebound.
 

SMM Nickel Market Daily Review (2014-10-21)

SHANGHAI, Oct. 22 (SMM) – SMM #1 nickel prices were between RMB 103,600-103,900/mt. Spot prices dropped after opening, with quotes RMB 0-100/mt below 1411 nickel contract prices on the Wuxi electronics trading. Russian nickel prices were RMB 200/mt below Jinchuan nickel prices, between RMB 103,500-104,700/mt. Spot prices stabilized between RMB 103,400-103,500/mt at one point in the afternoon, but fell with LME nickel prices after 3:00 pm, with Jinchuan nickel prices traded as low as RMB 102,600/mt. Trading between traders was active. Jinchuan lowered nickel prices RMB 3,300/mt to RMB 103,700/mt, but trading was barely made at this price level in the afternoon. Downstream purchase increased.
 

Australia blocks AngloAmerican coal extension proposal

SYDNEY, Oct 21 (Reuters) - AngloAmerican has been refused a license to extend the life of its Drayton coal mine in eastern Australia, reversing an earlier approval by government regulators in the latest blow to Australia's coal sector.

Australian hard coking coal export prices down in September

PERTH (Scrap Register): The September monthly average prices for Australian exports of Premium Hard Coking Coal (PHCC) and Hard Coking Coal (HCC) fell by 1.22% and 2.29% month-on-month to $112.28 a ton and $93.96 a ton FOB East Coast Australian port respectively.

SHFE Zinc Prices Finish with Losses (Oct. 21, 2014)

Tags: zinc prices
SHANGHAI, Oct. 21 (SMM) – SHFE 1412 zinc contract prices opened lower at RMB 16,170/mt Monday evening, then fluctuated between RMB 16,160-16,265/mt, and closed at RMB 16,215/mt, down RMB 95/mt or 0.58%. Trading volumes decreased 59,088 to 220,340 lots, and total positions increased 8,622 to 157,268 lots.
SHFE 1412 zinc contract prices opened at RMB 16,210/mt October 21, then clawed back some losses due to rebounding LME zinc prices and better-than-expected Q3 growth in China. As LME base metals weakened in the afternoon, SHFE 1412 zinc contract prices fell to as low as RMB 16,140/mt, and closed at RMB 16,150/mt, down RMB 160/mt or 0.98%. Trading volumes decreased 29,530, to 382,186 lots, and total positions were down 6,716 lots to 141,930 lots. SHFE 1412 zinc contract prices are expected to test support from RMB 16,000/mt now that LME zinc prices hit a three-month low.