






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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