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[Zn] CBI Morning Review - 2009/6/30 Zinc Market

iconJun 30, 2009 00:00

SHANGHAI, June 30 (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 29th       
1,565
-26.5
40,470
225,477
353,700

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 29th     
13,335
13,345
13,249
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 29th     
13,440
13,485
13,364
13,325

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 13,300-13,350/mt, 1# zinc and imported zinc were traded at RMB 13,230-13,300/mt, the transactions were limited in spot market, and the purchasing sentiment was low. Guangdong 0# zinc was traded at RMB 13,250-13,300/mt, 1# zinc was traded at RMB 13,250/mt, and the imported zinc was traded at RMB 13,200/mt, the spot market reported no improvement, and transactions were slim. As to futures market, LME zinc price fell, and SHFE zinc price fluctuated widely after opened, with three-month contract zinc price closing at RMB 13,440/mt, and the positions increased by 4,026 lots. SHFE zinc price lacked upward momentum and will unlikely break the previous high level in the short term.

 

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