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[Zn] CBI Morning Review - 2009/6/10 Zinc Market

iconJun 10, 2009 00:00

SHANGHAI, June 10 (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 9th
1,620
-30
39,070
229,991
327,400

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 9th   
13,300
13,255
12,933
1:6.8366
 

 
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 9th   
13,415
13,350
12,864
13,175

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 13,150-13,200/mt, 1# zinc was traded at RMB 13,100/mt, and the imported zinc was traded at RMB 13,100/mt, the zinc price fell and the spot transactions reported no improvement. Guangdong 0# zinc was traded at RMB 13,150/mt, 1# zinc was traded at RMB 13,100/mt, the spot transactions remained weak and the wait-and-see attitude still dominated the market. As to futures market, LME zinc continued to fall, while SHFE zinc price fluctuated widely yesterday. Commodity market rebounded due to falling US dollar index in the afternoon, with three-month contract closing at RMB 13,520/mt. Any downward pressure for zinc price will be limited in the short term due to ample speculative capital.

 

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