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[Zn] CBI Morning Review - 2009/5/21 Zinc Market

iconMay 21, 2009 00:00

SHANGHAI, May 21 (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 20th

1,500

-31

35,801

222,425

318,350

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 20th  

12,750

12,840

12,704

1:6.8251

 

 

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 20th  

12,815

12,955

12,845

12,850

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 12,800-12,900/mt, 1# zinc was traded at RMB 12,700-12,750/mt and imported zinc was traded at RMB 12,750/mt, the transactions became weak and the discount for spot price still existed in the market. Guangdong 0# zinc was traded at RMB 12,750-12,800/mt, 1# zinc and imported zinc were traded at RMB 12,700-12,750/mt, the transactions were slim in spot market and the downstream producers were cautious about the purchase. As to futures market, LME zinc fell back after surged, and SHFE zinc price moved downward yesterday, with dominant contract closing at RMB 12,815/mt. Both trading volumes and position dipped, and SHFE zinc price faced great resistance at RMB 13,100/mt, so special attention should be paid to recent SHFE copper price trend.

 

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