






SHANGHAI, May 25 (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 22nd |
1,515 |
-26 |
39,095 |
221,231 |
317,750 |
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 22nd |
12,775 |
12,655 |
12,684 |
1:6.8239 |
|
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 22nd |
12,865 |
12,785 |
12,819 |
12,750 |
Summary
Last Friday, Shanghai 0# zinc was traded at RMB 12,750/mt, 1# zinc was traded at RMB 12,650-12,700/mt, and the price of imported zinc was RMB 12,600-12,650/mt, the firm SHFE zinc price depressed the buying interest of downstream producers, and the overall transactions were general. Guangdong 0# zinc was traded at RMB 12,600-12,650/mt, 1# zinc and imported zinc were traded at RMB 12,550-12,600/mt, the inventories increased, and the wait-and-see attitude dominated the market, leading to modest transactions. As to futures market, LME zinc fell, while SHFE zinc price rebounded last Friday, and showed a firm performance. Although SHFE zinc price fell slightly following the SHFE copper price trend at noon, it improved in the afternoon and closed at RMB 12,865/mt. The good performance of SHFE zinc price boosted the market sentiment, but the inventory pressure still hampered zinc price.
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