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[Zn] CBI Morning Review - 2009/7/22 Zinc Market

iconJul 22, 2009 00:00

SHANGHAI, July 22 (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 21st   
1,649.5
-24
46,313
211,720
352,475

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 21st         
13,530
13,555
13,437
1:6.8311
 

 
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 21st    
13,715
13,755
13,491
13,500

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 13,500/mt, 1# zinc was traded at RMB 13,470/mt, and imported zinc was traded at RMB 13,450/mt, and transactions became worse in spot market, and a wait-and-see attitude dominated the downstream consumers. Guangdong 0# zinc was traded at RMB 13,400-13,450/mt, 1# zinc was traded at RMB 13,350/mt, and transactions were very weak in spot market, and the downstream purchasing sentiment was sluggish. As to futures market, overnight LME zinc price continued to move upward, which SHFE zinc price opened higher but went lower, and lost previous gains. The positions decreased sharply, and the wait-and-see sentiment dominated current market.

 

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