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[Zn] CBI Morning Review - 2009/6/8 Zinc Market

iconJun 8, 2009 00:00

SHANGHAI, June 8 (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 5th

1,575

-27

38,736

223,858

324,775

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 5th    

13,320

13,365

12,878

1:6.8334

 

 

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 5th    

13,415

13,465

12,861

13,250

Summary

Last Friday, Shanghai 0# zinc was traded at RMB 13,250/mt, 1# zinc was traded at RMB 13,200/mt, and the price of imported zinc was RMB 13,200-13,250/mt, the transactions were very slim in spot market, and the downstream producers were cautious toward purchase. Guangdong 0# zinc was traded at RMB 13,200/mt, 1# zinc was traded at RMB 13,150/mt, and the imported zinc supply was very limited in the market, with scarce transactions. The spot market showed a weak performance. As to futures market, LME zinc rose, and SHFE zinc moved downward on Friday, with three-month contract closing at RMB 13,415/mt, lower than settlement prices. Zinc price is expected to fall back in the short term, but any downward room will be limited.

 

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