






SHANGHAI, June 24 (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 23rd
|
1,540
|
-29
|
38,013
|
226,344
|
338,500
|
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 23rd
|
13,055
|
12,975
|
13,207
|
1:6.8339
|
|
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 23rd
|
13,185
|
13,085
|
13,349
|
12,975
|
Summary
Yesterday, Shanghai 0# zinc was traded at RMB 12,950-13,000/mt, 1# zinc was traded at RMB 12,930/mt and imported zinc was traded at RMB 12,900-12,950/mt, the spot transactions were limited. Guangdong 0# zinc was traded at RMB 12,950-13,000/mt, 1# zinc was traded in the RMB 12,900-12,950/mt, the transactions were weak in spot market, and a portion of downstream producers held a wait-and-see attitude. As to futures market, LME zinc price plunged. SHFE zinc price opened lower and went higher, and received support at RMB 13,000/mt, but the trading volumes continued to decrease. Any downward room for SHFE zinc price will be limited in the short term.
Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
None of this material may be used for any commercial or public use in any form or means, without the prior written consent of CBI China. For reproduction issue, please contact us by email: metalresearch@cbichina.com or tel:86-21-51550040
For queries, please contact Lemon Zhao at lemonzhao@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn