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[Zn] CBI Morning Review - 2009/6/24 Zinc Market

iconJun 24, 2009 00:00

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. 

 

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