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[Zn] CBI Morning Review - 2009/7/13 Zinc Market

iconJul 13, 2009 00:00

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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