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[Zn] CBI Morning Review - 2009/6/3 Zinc Market
SHANGHAI, June 3 (CBI China) -- LME Market
|
|
Close (USD/mt) |
Premium/Discount |
Volume (lot) |
Position (lot) |
Inventory (mt) |
|
3-mth Contract |
Spot – 3 mth | ||||
|
May Average |
1,513 |
-28 |
47,181 |
223,100 |
323,012 |
|
June 2nd |
1,563 |
-27.5 |
54,828 |
224,363 |
323,075 |
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 |
|
June 2nd |
13,025 |
13,035 |
12,757 |
1:6.8309 |
|
|
Zinc – 3mth (RMB/mt) |
Shanghai Spot 0# Zinc Ingot | ||
|
SHFE Close |
Settlement |
Weighted Ave. | ||
|
May 15th |
12,430 |
12,400 |
12,927 |
12,500 |
|
June 2nd |
13,120 |
13,210 |
12,849 |
13,050 |
Summary
Yesterday, Shanghai 0# zinc was traded at RMB 13,050/mt, 1# zinc and imported zinc were traded at RMB 12,970/mt, the trading volumes were limited in spot market, and the pessimism prevailed among downstream producers. Guangdong 0# zinc was traded at RMB 13,050/mt, 1# zinc was traded at RMB 12,950/mt, and imported zinc supply declined. Transactions were weak in spot market. As to futures market, LME zinc price climbed, while SHFE zinc showed weak performance yesterday, and the weak fundamentals hampered the rebounding zinc price. Three-month zinc contract was down 0.3%, and the positions decreased by 3,798 lots. The increases in domestic inventories will exert downward pressure on zinc price.
Copyright ? 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
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