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[Zn] CBI Morning Review - 2009/4/28 Zinc Market

iconApr 28, 2009 00:00

SHANGHAI, Apr. 28 (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. 27th

1,350

-31

43,277

208,660

339,025

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. 27th 

11,900

12,060

13,085

1:6.8253

 

 

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. 27th 

11,840

11,990

13,026

12,075

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 12,050-12,100/mt, 1# zinc was traded at RMB 12,000/mt, and the price of imported zinc was RMB 11,850/mt, the spot transactions were weak. Guangdong 0# zinc was traded at RMB 12,050/mt, 1# zinc was traded at RMB 11,950/mt and the imported zinc was traded at RMB 11,900-11,950/mt, the transaction sentiment became weak in spot market, and the purchase of downstream producers declined. As to futures market, LME zinc rebounded slightly, and SHFE zinc price continued to move downward yesterday, with SHFE three-month contract zinc price closing at RMB 11,840/mt, down 3.2%. The market players were pessimistic toward the price outlook, but the downward room for the price will be limited, with very thin possibility of sharp declines.

 

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