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[Zn] CBI Morning Review - 2009/4/20 Zinc Market

iconApr 20, 2009 00:00

SHANGHAI, Apr. 20 (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. 17th

1,550

-29.5

54,788

207,201

347,200

SHFE Market

 

Zinc – Spot Month (RMB/mt)

RMB/USD

SHFE Close

Settlement

Weighted Ave.

Apr. 15th

13,000

13,070

11,733

1:6.8293

Apr. 17th

13,650

13,700

13,697

1:6.8311

 

 

Zinc – 3mth (RMB/mt)

Shanghai Spot

0# Zinc Ingot

SHFE Close

Settlement

Weighted Ave.

Apr. 15th

13,085

13,070

11,358

13,250

Apr. 17th

13,585

13,695

13,684

13,650

Summary

On Friday, Shanghai 0# zinc was traded at RMB 13,650/mt, 1# zinc was traded at RMB 13,600/mt, and the price of imported zinc was RMB 13,500/mt, the spot transactions were worse than yesterday, and the quotations for imported zinc were mixed, so most of downstream producers took wait-and-see attitude. Guangdong 0# zinc was traded at RMB 13,650/mt, 1# zinc was traded at RMB 13,600/mt and the imported zinc was traded at RMB 13,550/mt, the spot transactions were slim and the downstream producers hoped the price to fall back again. As to futures market, on Friday, overnight LME zinc fluctuate, while SHFE zinc price fluctuated downwardly, and experienced a round of falling at noon, and down 1% in closing trading. The dominant position increased by 6,526 lots, and the long investors increased their position, so zinc price is expected to have upward momentum in the short term.

 

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