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[Zn] CBI Morning Review - 2009/4/23 Zinc Market

iconApr 23, 2009 00:00

SHANGHAI, Apr. 23 (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. 22nd

1,450

-29

38,765

206,608

343,175

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. 22nd  

12,400

12,725

13,356

1:6.8306

 

 

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. 22nd

12,370

12,625

13,346

12,700

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 12,700/mt, 1# zinc was traded at RMB 12,650/mt, and the price of imported zinc was RMB 12,550-12,600/mt, the spot transactions were better than early this week, and the buyers keep taking wait-and-see attitude. Guangdong 0# zinc was traded at RMB 12,650/mt, 1# zinc was traded at RMB 12,600/mt and the imported zinc was traded at RMB 12,550/mt, the spot transactions were moderate. As to futures market, LME zinc price fell slightly the day before yesterday, SHFE zinc price continued to fall yesterday, with dominant contract closing at RMB 12,370/mt, and the position continued to decline. The large volumes of import depressed zinc price, leading to less and less market confidence.

 

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