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[Zn] CBI Morning Review - 2009/4/14 Zinc Market

iconApr 14, 2009 00:00

SHANGHAI, Apr. 14 (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. 13th      

Close

SHFE Market

 

Zinc – Spot Month (RMB/mt)

RMB/USD

SHFE Close

Settlement

Weighted Ave.

Mar. 16th

10,800

10,775

10,496

1:6.8349

Apr. 13th

13,080

13,130

11,629

1:6.8332

 

 

Zinc – 3mth (RMB/mt)

Shanghai Spot

0# Zinc Ingot

SHFE Close

Settlement

Weighted Ave.

Mar. 16th

10,710

10,675

10,309

10,825

Apr. 13th

12,930

12,875

11,336

13,050

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 13,050/mt, 1# zinc was traded at RMB 13,000/mt, and the price of imported zinc was RMB 12,950/mt, the spot transactions remained weak and the downstream producers were waiting for the right time for purchase. Guangdong 0# zinc was traded at RMB 12,950-13,000/mt, 1# zinc and imported zinc were traded at RMB 12,900/mt, the spot transactions were slim, and the downstream producers were cautious about the purchase. As to futures market, LME market was closed during April 10-13th, SHFE zinc maintained upward trend yesterday, and SHFE zinc 0907 contract rose by 3.2%. The volume of dominant contract increased significantly, but the position declined slightly. SHFE zinc is expected to meet downward pressure in the short term.

 

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