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[Zn] CBI Morning Review - 2009/6/18 Zinc Market

iconJun 18, 2009 00:00

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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