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[Zn] CBI Morning Review - 2009/5/7 Zinc Market

iconMay 7, 2009 00:00

SHANGHAI, May 7 (CBI China) -- LME Market 

 

Close

(USD/mt)

Premium/Discount

Volume

(lot)

Position

(lot)

Inventory

(mt)

3-mth Contract

Spot – 3 mth

Apr. Average

1,412

-31

52,985

208,638

344,765

May 6th

1,600

-24

57,007

222,394

324,125

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

May 6th  

12,950

12,910

12,809

1:6.8232

 

 

Zinc – 3mth (RMB/mt)

Shanghai Spot

0# Zinc Ingot

SHFE Close

Settlement

Weighted Ave.

Apr. 15th

13,085

13,070

11,358

13,250

May 6th  

13,015

12,885

12,929

12,850

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 12,850/mt, 1# zinc was traded at RMB 12,800/mt, and the price of imported zinc was RMB 12,750/mt, the transactions were weak in spot market, and the buying interest of downstream producers was low. Guangdong 0# zinc was traded at RMB 12,850/mt, 1# zinc and the imported zinc were traded at RMB 12,800/mt, transactions remained weak in spot market due to weary demand. As to futures market, LME zinc rose slightly, while SHFE zinc price moved upwardly, with the dominant contract soaring to RMB 13,090/mt. The spot market was quiet, and the market sentiment became low, so SHFE zinc will keep moving to wait for the clear direction.

 

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