






SHANGHAI, July 6 (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 3rd
|
1,555
|
-27
|
25,785
|
223,519
|
352,600
|
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 3rd
|
13,260
|
13,265
|
13,261
|
1:6.8333
|
|
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 3rd
|
13,380
|
13,380
|
13,367
|
13,250
|
Summary
Last Friday, Shanghai 0# zinc was traded at RMB 13,250/mt, 1# zinc and imported zinc were traded at RMB 13,150-13,200/mt, the spot market remained quiet, and transactions recorded no significant improvement. Guangdong 0# zinc was traded at RMB 13,250/mt, 1# zinc was traded at RMB 13,200/mt, and imported zinc was traded at RMB 13,150-13,200/mt, the market sentiment was weak and the trading volume was limited. As to futures market, LME zinc price fell, and last Friday SHFE zinc price fluctuated narrowly and plunged at noon, with three-month contract zinc price closing at RMB 13,455/mt. Both trading volumes and positions declined, and wait-and-see attitude prevailed among market players, and zinc price will unlikely rebound in the short term given current high inventory pressure.
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