






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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