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[Zn] CBI Morning Review - 2009/7/20 Zinc Market

iconJul 20, 2009 00:00

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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