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[Zn] CBI Morning Review - 2009/7/9 Zinc Market

iconJul 9, 2009 00:00

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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