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[Zn] CBI Morning Review - 2009/6/12 Zinc Market

iconJun 12, 2009 00:00

SHANGHAI, June 12 (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 11th
1,720
-30
67,050
234,610
329,075

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 11th   
16,575
13,525
13,011
1:6.8348
 

 
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 11th   
13,620
13,640
12,871
13,395

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 13,370-13,420/mt, 1# zinc was traded at RMB 13,350/mt, and the imported zinc was traded at RMB 13,300/mt, the transactions were limited in spot market, and the imported zinc supply decreased. Guangdong 0# zinc was traded at RMB 13,400/mt, 1# zinc was traded at RMB 13,350/mt, the spot transactions were limited, and the sudden zinc rise at noon boosted the market sentiment. As to futures market, LME zinc price stabilized in the high level, and SHFE zinc fluctuated yesterday, and soared to RMB 13,970/mt in the afternoon propelled by speculative funds. However, SHFE zinc fell again and closed at RMB 13,725/mt. Zinc price met strong resistance at RMB 13,900/mt.

 

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