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[Zn] CBI Morning Review - 2009/6/11 Zinc Market

iconJun 11, 2009 00:00

SHANGHAI, June 11 (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 10th
1,625
-29
57,055
233,973
327,800

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 10th   
13,520
13,515
12,966
1:6.8336

 
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 10th   
13,595
13,615
12,867
13,400

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 13,400/mt, 1# zinc was traded at RMB 13,380/mt, and the imported zinc was traded at RMB 13,350-13,400/mt, the market players were optimistic over price outlook, while the spot trading sentiment was moderate. Guangdong 0# zinc was traded at RMB 13,400/mt, 1# zinc was traded at RMB 13,350/mt, the spot transactions were weak, and the buying interest of downstream producers remained sluggish. As to futures market, LME zinc climbed, and SHFE zinc price fluctuated narrowly, with three-month contract up to RMB 13,700/mt. The trading volumes increased by nearly 50,000 lots.

 

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