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[Zn] CBI Morning Review - 2009/4/3 Zinc Market

iconApr 3, 2009 00:00

SHANGHAI, Apr. 3 (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. 2nd       

1,327.5

-30

44,808

206,646

348,675

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. 2nd      

RMB 11,870

RMB 11,800

RMB 11,343

1:6.8341

 

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. 2nd      

RMB 11,770

RMB 11,695

RMB 11,287

RMB 11,800

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 11,800/mt, 1# zinc was traded at RMB 11,700/mt, and the price of imported zinc was RMB 11,600/mt, the spot transactions remained weak and the wait-and-see sentiment dominated the market. 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 11,700/mt, the spot market transactions were neutral. As to futures market, LME zinc moved around the day before yesterday, SHFE zinc fluctuated as well yesterday, and SHFE zinc price rose rapidly at noon, with the dominate position up 7,166 lots. The market insiders were cautious about the outcome of G20 summit.

 

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