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[Zn] CBI Morning Review - 2009/7/15 Zinc Market

iconJul 15, 2009 00:00

SHANGHAI, July 15 (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 14th 
1,497
-28
70,476
218,673
354,150

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 14th       
12,765
12,790
13,193
1:6.8332
 

 
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 14th    
12,895
12,835
13,352
12,775

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 12,750-12,800/mt, 1# zinc was traded at RMB 12,700/mt, and imported zinc was traded at RMB 12,650-12,700/mt, transactions were weak in spot market, and trading volumes decreased significantly. Guangdong 0# zinc was traded at RMB 12,800-12,850/mt, 1# zinc was traded at RMB 12,750-12,800/mt, and imported zinc was traded at RMB 12,750/mt, spot transactions were general. As to futures market, overnight LME zinc price fell, and yesterday SHFE zinc price fluctuated higher and closed at RMB 12,890/mt. The positions shrank. Zinc price is expected to move downward in the short term give current great domestic inventory pressure. 

 

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