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[Zn] CBI Morning Review - 2009/7/3 Zinc Market

iconJul 3, 2009 00:00

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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