






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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