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[Zn] CBI Morning Review - 2009/5/14 Zinc Market

iconMay 14, 2009 00:00

SHANGHAI, May 14 (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 13th

1,475

-31

45,148

225,384

322,025

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

May 13th  

12,750

12,770

12,816

1:6.8235

 

 

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 13th  

12,805

12,760

12,928

12,750

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 12,750/mt, 1# zinc and imported zinc were traded at RMB 12,650/mt, the inquiries from downstream producers increased, but the transactions failed to improve, since the wait-and-see sentiment still dominated the market. Guangdong 0# zinc was traded at RMB 12,700/mt, 1# zinc and imported zinc were traded at RMB 12,650/mt, the transactions were moderate in spot market, and the downstream producers purchased based on production needs. As to futures market, SHFE zinc trading volumes shrank, and the total position continued to decline. Currently, SHFE zinc price fluctuated after declines, and any rebound room for the price will be limited if the position records no improvement.

 

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