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[Zn] CBI Morning Review - 2009/7/21 Zinc Market

iconJul 21, 2009 00:00

SHANGHAI, July 21 (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 20th 
1,670
-23
41,824
210,702
352,600

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 20th       
13,700
13,610
13,379
1:6.8321
 

 
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 20th    
13,880
13,755
13,428
13,525

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 13,500-13,550/mt, 1# zinc and imported zinc were traded at RMB 13,500/mt, and transactions were general. Guangdong 0# zinc was traded at RMB 13,450/mt, 1# zinc was traded at RMB 13,400/mt, and imported zinc was traded at RMB 13,350-13,400/mt. Transactions remained weak in spot market. As to futures market, overnight LME zinc price grew strongly, and yesterday SHFE zinc price opened higher and closed at RMB 13,880/mt. The positions contracted, and the positive data from US contributed to the increasing zinc price. Softened US dollar index is expected to exert positive impact on domestic SHFE zinc price.

 

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