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[Zn] CBI Morning Review - 2009/7/14 Zinc Market

iconJul 14, 2009 00:00

SHANGHAI, July 14 (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 13th 
1,465
-24
58,799
221,281
351,150

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 13th       
12,715
12,820
13,203
1:6.8320
 

 
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 13th    
12,700
12,860
13,356
12,880

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 12,830-12,930/mt, 1# zinc was traded at RMB 12,800/mt, and imported zinc was traded at RMB 12,750/mt, the trading sentiment improved in spot market, but more traders were pessimistic towards market outlook. Guangdong 0# zinc was traded at RMB 12,800-12,850/mt, 1# zinc was traded at RMB 12,750-12,800/mt, inquiries were up, but trading sentiment was lukewarm. As to futures market, SHFE zinc price moved downward rapidly yesterday. SHFE three-month contract zinc price received limited support at RMB 12,850/mt, and then continued to fall, with a decline of 3.86%. The positions increased by 76,000 lots, ad any downward room for zinc price will be limited in the short term.

 

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