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[Zn] CBI Morning Review - 2009/6/25 Zinc Market

iconJun 25, 2009 00:00

SHANGHAI, June 25 (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 24th    
1,600
-29.5
42,198
226,657
339,525

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 24th      
13,225
13,070
13,196
1:6.8316
 

 
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 24th      
13,390
13,260
13,341
13,075

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 13,050-13,100/mt, 1# zinc was traded at RMB 13,020/mt and imported zinc was traded at RMB 13,000/mt, the spot transactions were worse than yesterday, and the downstream producers adopted a cautious attitude toward purchase. Guangdong 0# zinc was traded at RMB 13,100/mt, 1# zinc was traded at RMB 13,050/mt, but with limited supply in the market. The transactions were neutral in spot market, and the trading sentiment was inactive. As to futures market, LME zinc price gained some losses and climbed to USD 1,500/mt. SHFE zinc price opened lower and went higher yesterday, and both trading volumes and positions increased, but the spot discounts remained unchanged. SHFE zinc price will fluctuate above RMB 13,000/mt in the short term. 

 

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