






SHANGHAI, July 9 (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 8th
|
1,520
|
-26.5
|
37,959
|
223,055
|
351,950
|
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 8th
|
13,030
|
13,010
|
13,229
|
1:6.8336
|
|
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 8th
|
13,135
|
13,110
|
13,363
|
13,025
|
Summary
Yesterday, Shanghai 0# zinc was traded at RMB 13,000-13,050/mt, 1# zinc was traded at RMB 13,000/mt, and imported zinc was traded at RMB 12,950/mt, the trading volumes were limited in spot market, with mixed price offers. Guangdong 0# zinc was traded at RMB 13,000-13,100/mt, 1# zinc was traded at RMB 13,000/mt, and imported zinc was traded at RMB 12,950-12,980/mt, the dipped SHFE zinc price boosted the trading sentiment in the market, and trading volumes reported significant increases. As to futures market, overnight LME zinc price rose slightly, and yesterday SHFE zinc price moved downward in the morning, and then rebounded following SHFE copper price trend in the afternoon. Both trading volumes and positions increased sharply. The lower SHFE zinc price met obvious support, so there will be thin possibility zinc price will continue to edge down in the short term.
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