






SHANGHAI, June 12 (SMM) --
LME Market
|
Close
(USD/mt)
|
Premium/Discount
|
Volume
(lot)
|
Position
(lot)
|
Inventory
(mt)
|
3-mth Contract
|
Spot – 3 mth
|
||||
May Average
|
1,996
|
-31
|
75,192
|
242,444
|
579,930
|
June 11th
|
1,740
|
-29
|
70,855
|
252,376
|
617,125
|
SHFE Market
|
Zinc – Spot Month (RMB/mt)
|
RMB/USD
|
|
SHFE Close
|
Settlement
|
||
May 17th
|
15,665
|
15,735
|
1:6.8275
|
June 11th
|
14,150
|
14,135
|
1:6.8279
|
|
Zinc – 3mth (RMB/mt)
|
Shanghai Spot
#0 Zinc Ingot
|
|
SHFE Close
|
Settlement
|
||
May 17th
|
15,970
|
16,165
|
15,700
|
June 11th
|
14,380
|
14,325
|
14,200
|
Summary
According to the U.S. Department of Commerce on Friday, May retail sales data on Friday fell by 1.2% over contract, while the previous expectation was a 0.2% increase. The Euro weakened after the lower-than-expected data released. LME zinc prices fluctuated weakly between USD 1,710-1,770/mt on June 11th. Although prices climbed as high as USD 1,762/mt , finally closed at USD 1,740/mt, still meeting resistance at 10-day moving average. Any breakthrough of zinc price shall depend on its neighboring market movement.
To contact the writer on this report: monicagao@smm.cn
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