Home / Metal News / [Zn] CBI Morning Review - 2009/6/9 Zinc Market

[Zn] CBI Morning Review - 2009/6/9 Zinc Market

iconJun 9, 2009 00:00

SHANGHAI, June 9 (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 8th

1,555

-27.5

51,909

227,406

326,125

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 8th   

13,190

13,295

12,916

1:6.8365

 

 

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 8th   

13,295

13,365

12,863

13,300

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 13,300/mt, 1# zinc was traded at RMB 13,200/mt, and the price of imported zinc was RMB 13,150-13,200/mt, the firm zinc price dampened the transactions in spot market, while the purchases of downstream producers were limited. Guangdong 0# zinc was traded at RMB 13,150-13,250/mt, 1# zinc was traded at RMB 13,100-13,200/mt, the transactions were weak in spot market, and the discount for spot zinc became wider. As to futures market, LME zinc price fell slightly, and SHFE zinc moved in the low level yesterday and closed at RMB 13,410/mt. The positions declined by 6,570 lots, and the trading volumes slumped as well. SHFE zinc price faced downward pressure, but any downward room will be limited.

 

Copyright ? 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.

None of this material may be used for any commercial or public use in any form or means, without the prior written consent of CBI China. For reproduction issue, please contact us by email: metalresearch@cbichina.com or tel:86-21-51550040

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn