






SHANGHAI, June 18 (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 17th
|
1,565
|
-30
|
51,593
|
228,664
|
336,450
|
SHFE Market
|
Zinc – Spot Month (RMB/mt)
|
RMB/USD
|
||
SHFE Close
|
Settlement
|
Weighted Ave.
|
||
June 15th
|
13,270
|
13,450
|
13,114
|
1:6.8343
|
June 17th
|
13,430
|
13,360
|
13,281
|
1:6.8340
|
|
Zinc – 3mth (RMB/mt)
|
Shanghai Spot
0# Zinc Ingot
|
||
SHFE Close
|
Settlement
|
Weighted Ave.
|
||
June 15th
|
13,410
|
13,455
|
12,880
|
13,400
|
June 17th
|
13,510
|
13,420
|
13,386
|
13,225
|
Summary
Yesterday, Shanghai 0# zinc was traded at RMB 13,200-13,250/mt, 1# zinc was traded at RMB 13,180/mt, and the price of imported zinc was RMB 13,150/mt, the transactions were moderate in spot market, and the downstream buying interest was low. Guangdong 0# zinc was traded at RMB 13,200/mt, 1# zinc was traded at RMB 13,150/mt, and the price of imported zinc was around RMB 13,100/mt, the trading sentiment was more active than yesterday. As to futures market, LME zinc price fell slightly, and SHFE zinc price moved upward and showed strong performance yesterday. The re-entrance of long investors drove up prices after several days’ corrections, contributing to the daily growth rate of 1.2% for SHFE zinc price. The positions increased, and any room for price adjustment was limited. Zinc price is expected to remain high in the short term.
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