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[Zn] CBI Morning Review - 2009/5/20 Zinc Market
SHANGHAI, May 20 (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 19th |
1,520 |
-30 |
62,939 |
225,560 |
320,150 |
SHFE Market
|
|
Zinc – Spot Month (RMB/mt) |
RMB/USD | ||
|
SHFE Close |
Settlement |
Weighted Ave. | ||
|
May 15th |
12,550 |
12,525 |
12,807 |
1:6.8247 |
|
May 19th |
13,030 |
12,910 |
12,672 |
1:6.8260 |
|
|
Zinc – 3mth (RMB/mt) |
Shanghai Spot 0# Zinc Ingot | ||
|
SHFE Close |
Settlement |
Weighted Ave. | ||
|
May 15th |
12,430 |
12,400 |
12,927 |
12,500 |
|
May 19th |
13,170 |
12,975 |
12,802 |
12,850 |
Summary
Yesterday, Shanghai 0# zinc was traded at RMB 12,800-12,900/mt, 1# zinc and imported zinc were traded at RMB 12,700-12,750/mt, today the wait-and-see attitude dominated the spot market, and the downstream producers were cautious about the purchase. Guangdong 0# zinc was traded at RMB 12,800/mt, 1# zinc and imported zinc were traded at RMB 12,700-12,750/mt, the spot transactions were weak, with limited trading volumes. As to futures market, LME zinc price rose, and SHFE zinc price opened high, then climbed rapidly propelled by SHFE copper price at noon, with SHFE three-month contract zinc price closing at RMB 13,170/mt, up 4.48%. The position increased by 11,652 lots, but there will be limited possibility for SHFE zinc price to move above RMB 13,000/mt.
Copyright ? 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
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