






SHANGHAI, July 3 (CBI China) -- LME Market
|
Close
(USD/mt)
|
Premium/Discount
|
Volume
(lot)
|
Position
(lot)
|
Inventory
(mt)
|
3-mth Contract
|
Spot – 3 mth
|
||||
June Average
|
1,583
|
-27
|
48,135
|
228,378
|
333,986
|
July 2nd
|
1,575
|
-27
|
43,386
|
224,625
|
353,125
|
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
|
July 2nd
|
13,310
|
13,325
|
13,261
|
1:6.8309
|
|
Zinc – 3mth (RMB/mt)
|
Shanghai Spot
0# Zinc Ingot
|
||
SHFE Close
|
Settlement
|
Weighted Ave.
|
||
June 15th
|
13,410
|
13,455
|
12,880
|
13,400
|
July 2nd
|
13,400
|
13,460
|
13,367
|
13,305
|
Summary
Yesterday, Shanghai 0# zinc was traded at RMB 13,260-13,350/mt, 1# zinc was traded at RMB 13,250/mt and imported zinc was traded at RMB 13,200-13,250/mt, the spot market showed weak performance, and the wait-and-see sentiment still dominated the downstream producers. Guangdong 0# zinc was traded at RMB 13,300/mt, 1# zinc was traded at RMB 13,250/mt, and imported zinc was traded at RMB 13,200-13,250/mt, the spot market remained bearish, and the downstream purchasing was cautious. As to futures market, LME zinc price gained upon positive data, while SHFE zinc price moved downward, with three-month contract closing at RMB 13,400/mt. The trading volume increased, but the positions declined slightly, and the struggles between long and short positions have been intense.
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