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[Zn] CBI Morning Review - 2009/4/29 Zinc Market

iconApr 29, 2009 00:00

SHANGHAI, Apr. 29 (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. 28th

1,340

-29

46,932

207,809

334,775

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. 28th 

12,050

11,990

13,032

1:6.8274

 

 

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. 29th 

11,915

11,905

12,965

12,075

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 12,050-12,100/mt, 1# zinc was traded at RMB 11,950-12,000/mt, and the price of imported zinc was RMB 11,800/mt, the spot transactions were weak and the downstream producers were hesitant in purchase. 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/mt, the inquiries improved, but the purchase volumes were limited. As to futures market, LME zinc price dipped sharply, while SHFE zinc price rebounded, and outperformed SHFE copper and aluminum. SHFE three-month contract zinc trading volumes increased, and the position declined by 4,538 lots, and zinc price will fluctuate mildly in the short term.

 

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