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[Zn] CBI Morning Review - 2009/4/7 Zinc Market

iconApr 7, 2009 00:00

SHANGHAI, Apr. 7 (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. 6th      

1,360

-32.5

57,972

207,949

350,125

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. 3rd

RMB 11,950

RMB 11,890

RMB 11,352

1:6.8320

 

 

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. 3rd

RMB 11,735

RMB 11,740

RMB 11,291

RMB 11,850

Summary

On April 3rd, Shanghai 0# zinc was traded at RMB 11,850/mt, and the higher offers were limited, 1# zinc was traded at RMB 11,750/mt, and the price of imported zinc was RMB 11,700/mt, the spot transactions remained weak. Guangdong 0# zinc was traded at RMB 11,850-11,900/mt, 1# zinc at RMB 11,800/mt, while the price of imported zinc was around RMB 11,750-11,800/mt, the spot transactions were slim. As to futures market, SHFE zinc surged in early trading on Friday, then fell slightly in closing trading, with position down 5,150 lots. The capital injection plan proposed on G20 summit left positive impact on metals markets, but the zinc price rose with downward pressure.

 

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