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[Zn] CBI Morning Review - 2009/4/2 Zinc Market

iconApr 2, 2009 00:00

SHANGHAI, Apr. 2 (CBI China) -- LME Market 

 

Close

(USD/mt)

Premium/Discount

Volume

(lot)

Position

(lot)

Inventory

(mt)

3-mth Contract

Spot – 3 mth

Mar. Average

1,251

-28

54,088

207,023

347,170

Apr. 1st      

1,320

-30

39,646

205,323

344,450

SHFE Market

 

Zinc – Spot Month

RMB/USD

SHFE Close

Settlement

Weighted Ave.

Mar. 16th    

RMB 10,800

RMB 10,775

RMB 10,496

1:6.8349

Apr. 1st      

RMB 11,780

RMB 11,800

RMB 11,332

1:6.8349

 

Zinc – 3mth

Shanghai Spot

0# Zinc Ingot

SHFE Close

Settlement

Weighted Ave.

Mar. 16th   

RMB 10,710

RMB 10,675

RMB 10,309

RMB 10,825

Apr. 1st      

RMB 11,615

RMB 11,690

RMB 11,280

RMB 11,825

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 11,800-11,850/mt, 1# zinc was traded at RMB 11,750/mt, and the price of imported zinc was RMB 11,630-11,680/mt, the spot transactions remained weak. Guangdong 0# zinc was traded at RMB 11,800/mt, 1# zinc at RMB 11,750/mt, while the price of imported zinc was around RMB 11,650-11,700/mt, the downstream producers were cautious about purchase, and the overall transactions were slim. As to futures market, LME zinc rose the day before yesterday, SHFE zinc move narrowly yesterday, and then fell at noon following SHFE copper trend, with dominant position up 4,858 lots. SHFE zinc is expected to move above RMB 11,500/mt in the short term.

 

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