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

iconJul 7, 2009 00:00

SHANGHAI, July 7 (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 6th  
1,555
-27
35,265
220,316
352,300

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 6th        
13,110
13,195
13,258
1:6.8330
 

 
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 6th     
13,230
13,330
13,367
13,250

Summary

On Monday, Shanghai 0# zinc was traded at RMB 13,200/mt, 1# zinc was traded at RMB 13,150/mt, and imported zinc was traded at RMB 13,100-13,150/mt, the spot transactions were general. Guangdong 0# zinc was traded at RMB 13,150-13,200/mt, 1# zinc was traded at RMB 13,100-13,150/mt, spot transactions were slim, and pessimistic sentiment emerged in the market. As to futures market, LME zinc price fell one night ago, and yesterday SHFE zinc price moved downward, with three-month contract closing at RMB 13,280/mt, down 1.3%. Both trading volume and positions experienced increases, and spot supply pressure dampened SHFE zinc price. Technically, SHFE zinc price received support at RMB 13,150/mt.

 

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