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[Zn] CBI Morning Review - 2009/5/11 Zinc Market

iconMay 11, 2009 00:00

SHANGHAI, May 11 (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 8th

1,575

-24

54,011

223,814

325,900

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 8th  

13,160

12,960

12,831

1:6.8221

 

 

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 8th  

13,170

13,020

12,931

12,825

Summary

Last Friday, Shanghai 0# zinc was traded at RMB 12,800-12,850/mt, 1# zinc was traded at RMB 12,750/mt, and the price of imported zinc was RMB 12,730-12,750/mt, the transactions were limited in spot market, and the downstream producers still adopted a cautious attitude toward purchases. Guangdong 0# zinc was traded at RMB 12,850-12,900/mt, 1# zinc and the imported zinc were traded at RMB 12,750/mt, the spot market remained weak over this week, and the wait-and-see attitude dominated the market. As to futures market, LME zinc price fell slightly, while SHFE zinc price fluctuated at low levels last Friday, and then picked up following the SHFE copper price trend, with both the volumes and positions of dominant contracts down slightly.

 

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