






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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