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[Zn] CBI Morning Review - 2009/7/1 Zinc Market

iconJul 1, 2009 00:00

SHANGHAI, July 1 (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 30th      
1,545
-26
48,341
226,112
353,575

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 30th     
13,270
13,325
13,258
1:6.8319
 

 
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 30th     
13,420
13,435
13,366
13,225

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 13,200-13,250/mt, 1# zinc and imported zinc were traded at RMB 13,200/mt, the falling zinc price failed to boost the spot market, and the overall transactions were limited. Guangdong 0# zinc was traded at RMB 13,200-13,250/mt, 1# zinc was traded at RMB 13,200/mt, and the imported zinc was traded at RMB 13,150-13,200/mt, the spot market remained bearish. As to futures market, LME zinc price continued to fall, and yesterday SHFE zinc price fluctuated after opening, and then the falling zinc price in LME electronic trading boosted SHFE zinc price, so finally SHFE three-month contract zinc price closed at RMB 13,420/mt, flat at June 29 levels. Both trading volumes and positions continued to increase, and the struggles between long and short positions intensified.

 

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