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[Zn] CBI Morning Review - 2009/4/15 Zinc Market

iconApr 15, 2009 00:00

SHANGHAI, Apr. 15 (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. 14th

1,435

-36

77,244

212,506

351,500

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. 14th

12,890

13,000

11,663

1:6.8296

 

 

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. 14th

12,745

12,735

11,346

13,000

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 12,900-13,100/mt, and obvious differences appeared in zinc price of different brands. 1# zinc was traded at RMB 12,800/mt, and the price of imported zinc was RMB 12,700/mt, the inquiries improved, while the actual transactions were moderate. Guangdong 0# zinc was traded at RMB 12,800/mt, 1# zinc and imported zinc were traded at RMB 12,750/mt, the spot transactions were slim and improved slightly at noon. As to futures market, overnight LME market was closed, SHFE zinc price improved following the trend of SHFE copper yesterday, and SHFE zinc 0907 contract fell by 0.9% in closing trading. Dominant position declined by 3,204 lots. Zinc price will meet downward pressure amid competition between short investors and long investors in the market.

 

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