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[Zn] CBI Morning Review - 2009/6/26 Zinc Market

iconJun 26, 2009 00:00

SHANGHAI, June 26 (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 25th     
1,635
-28.5
26,845
227,470
340,625

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 25th     
13,260
13,285
13,213
1:6.8331
 

 
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 25th     
13,430
13,440
13,351
13,275

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 13,250-13,300/mt, 1# zinc was traded at RMB 13,230/mt and imported zinc was traded at RMB 13,200/mt, the spot transactions were slim in the market. Guangdong 0# zinc was traded at RMB 13,200-13,250/mt, 1# zinc was traded at RMB 13,150-13,200/mt, the spot market was quiet and the trading sentiment was weak. As to futures market, LME zinc price soared to USD 1,600/mt. SHFE zinc price fluctuated higher yesterday. However, the weak spot market restricted the upward room for zinc price, so SHFE zinc price will find pressure at RMB 13,600/mt.

 

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