






SHANGHAI, May 13 (SMM) -- LME Market
|
Close
(USD/mt)
|
Premium/Discount
|
Volume
(lot)
|
Position
(lot)
|
Inventory
(mt)
|
3-mth Contract
|
Spot – 3 mth
|
||||
Apr. Average
|
2,404
|
-33
|
68,089
|
238,375
|
545,240
|
May 12th
|
2,095
|
-31
|
94,410
|
243,813
|
570,875
|
SHFE Market
|
Zinc – Spot Month (RMB/mt)
|
RMB/USD
|
||
SHFE Close
|
Settlement
|
Weighted Ave.
|
||
Apr. 15th
|
18,785
|
18,820
|
18,575
|
1:6.8260
|
May 12th
|
16,320
|
16,305
|
17,925
|
1:6.8271
|
|
Zinc – 3mth (RMB/mt)
|
Shanghai Spot
#0 Zinc Ingot
|
||
SHFE Close
|
Settlement
|
Weighted Ave.
|
||
Apr. 15th
|
19,225
|
19,280
|
18,677
|
18,600
|
May 12th
|
16,650
|
16,615
|
18,748
|
16,300
|
Summary
LME metals prices were mixed last night, and LME zinc prices reported significant declines early in the session, but later regained some previous losses following a weaker US dollar, and finally LME three-month zinc contract prices closed at USD 2,095/mt. However, market sentiment remains weak currently, and LME zinc prices are expected to continue to fluctuate. SMM predicts SHFE three-month zinc contract prices will move between RMB 16,600-17,000/mt today, with special focus on impact on futures market and market sentiment from domestic A-shares market.
To contact the writer on this report: monicagao@smm.cn
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