






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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