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[Zn] CBI Morning Review - 2009/5/18 Zinc Market

iconMay 18, 2009 00:00

SHANGHAI, May 18 (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 15th

1,485

-30

38,800

229,395

323,825

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 15th  

12,550

12,525

12,807

1:6.8247

 

 

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 15th  

12,430

12,400

12,927

12,500

Summary

Last Friday, Shanghai 0# zinc was traded at RMB 12,550/mt, 1# zinc was traded at RMB 12,500/mt, and the price of imported zinc was RMB 12,430-12,480/mt, the transactions improved in spot market. Guangdong 0# zinc was traded at RMB 12,500/mt, 1# zinc was traded at RMB 12,400/mt and the imported zinc was traded at RMB 12,300-12,350/mt, the transactions were slim in spot market, and the downstream producers purchased in limited volumes. As to futures market, SHFE spot month contract zinc price showed a weak performance during the last trading day last Friday, but rose to RMB 12,600/mt in the closing trading due to the support of buyers. SHFE zinc price is expected to fluctuate in the short term.

 

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