






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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