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[Zn] CBI Morning Review - 2009/7/17 Zinc Market

iconJul 17, 2009 00:00

SHANGHAI, July 17 (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 16th 
1,540
-24.5
37,551
210,955
353,525

SHFE Market

 
Zinc – Spot Month (RMB/mt)
RMB/USD
SHFE Close
Settlement
Weighted Ave.
July 15th
13,050
13,005
13,188
1:6.8328
July 16th       
13,165
13,150
13,150
1:6.8315
 

 
Zinc – 3mth (RMB/mt)
Shanghai Spot
0# Zinc Ingot
SHFE Close
Settlement
Weighted Ave.
July 15th
13,220
13,110
13,351
13,025
July 16th    
13,240
13,260
13,262
13,050

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 13,050/mt, 1# zinc and imported zinc were traded at RMB 12,950-13,000/mt, and transactions were lukewarm in spot market, and inquiries were weak as well. Guangdong 0# zinc was traded at RMB 13,050/mt, 1# zinc was traded at RMB 13,000/mt. Transactions were weak in spot market, and the sluggish purchasing sentiment dominated the downstream producers. As to futures market, overnight LME zinc price soared, while SHFE zinc price fell from the high level yesterday, with three-month contract zinc price closing at RMB 13,240/mt. The positions continued to shrink, and domestic spot market showed weak performance. SHFE zinc price moved upward at a slower pace and is expected to fluctuate widely in the short term.

 

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