






SHANGHAI, July 20 (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 17th
|
1,610
|
0
|
44,629
|
210,758
|
353,100
|
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 17th
|
13,230
|
13,205
|
13,177
|
1:6.8310
|
|
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 17th
|
13,420
|
13,325
|
13,287
|
13,125
|
Summary
Last Friday, Shanghai 0# zinc was traded at RMB 13,100-13,150/mt, 1# zinc and imported zinc were traded at RMB 13,100/mt, and transactions were lukewarm in spot market. Guangdong 0# zinc was traded at RMB 13,050/mt, 1# zinc and imported zinc were traded at RMB 12,950-13,000/mt. Transactions remained weak in spot market. As to futures market, overnight LME zinc price fluctuated, and SHFE zinc price opened high and went higher last Friday, with three-month contract closing at RMB 13,420/mt, up 1.2%. The positions continued to decrease, and zinc price has a sign of rebounding technically, but the newly released high zinc output in June will restrict the upward room for the price.
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