






SHANGHAI, July 13 (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 10th
|
1,505
|
-26
|
33,649
|
224,406
|
351,625
|
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 10th
|
13,100
|
13,070
|
13,219
|
1:6.8313
|
|
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 10th
|
13,140
|
13,155
|
13,361
|
13,075
|
Summary
Last Friday, Shanghai 0# zinc was traded at RMB 13,050-13,100/mt, 1# zinc and imported zinc were traded at RMB 12,950-13,000/mt, the trading sentiment became worse in spot market, and overall transactions were moderate. Guangdong 0# zinc was traded at RMB 13,050-13,100/mt, 1# zinc and imported zinc were traded at RMB 13,000-13,050/mt, spot transactions were general, and inquiries were limited. As to futures market, overnight LME zinc price moved upward, while SHFE zinc price fluctuated narrowly last Friday, and then fell rapidly at noon dampened by 5-day average line, with three-month contract zinc price closing at RMB 13,195/mt, and the positions increased by 5,854 lots. The spot supply pressure will continue to weigh on SHFE zinc price, resulting in narrow fluctuations for SHFE zinc price in the short term.
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