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[Zn] CBI Morning Review - 2009/5/12 Zinc Market

iconMay 12, 2009 00:00

SHANGHAI, May 12 (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 11th

1,540

-28

35,286

223,868

324,425

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 11th  

12,510

12,725

12,827

1:6.8220

 

 

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 11th  

12,500

12,610

12,929

12,725

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 12,700-12,750/mt, 1# zinc and imported zinc were traded at RMB 12,600-12,650/mt, the transactions were weak, and the overall spot market remained sluggish. Guangdong 0# zinc was traded at RMB 12,700/mt, 1# zinc was traded at RMB 12,650-12,700/mt, and the imported zinc were traded at RMB 12,600/mt, the spot transactions recorded no improvements, and the market remained weak. As to futures market, the price range for LME zinc dipped, while SHFE zinc price moved smoothly yesterday, but experienced declines in the afternoon due to the downward pressure from short investors, with the dominant contract down 4% in closing trading. Weak domestic demand will further weigh on zinc price.

 

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