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[Zn] CBI Morning Review - 2009/4/21 Zinc Market

iconApr 21, 2009 00:00

SHANGHAI, Apr. 21 (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. 20th

1,475

-29.5

51,114

207,492

345,400

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. 20th

13,450

13,580

13,671

1:6.8329

 

 

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. 20th

13,380

13,540

13,640

13,550

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 13,550/mt, 1# zinc was traded at RMB 13,500/mt, and the price of imported zinc was RMB 13,400/mt, the market transactions were weak, and the spot supply increased. Guangdong 0# zinc was traded at RMB 13,500/mt, 1# zinc was traded at RMB 13,450/mt and the imported zinc was traded at RMB 13,400-13,450/mt, the spot transactions were modest, and the downstream producers were cautious about the purchase. As to futures market, LME zinc price rose in closing trading the day before yesterday, SHFE zinc price moved downward due to the withdrawal of long investors after profit-taking, with dominant contract closing down 1.5%, the position declined by 17,056 lots. Zinc price is expected to move downward slowly.

 

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