






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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