SHANGHAI, July 24 (CBI China) -- LME Market

	Close (USD/mt)	Premium/Discount	Volume (lot)	Position (lot)	Inventory (mt)
	3-mth Contract	Spot – 3 mth	Volume (lot)	Position (lot)	Inventory (mt)
June Average	1,583	-27	48,135	228,378	333,986
July 23^rd	1,680	-23.5	91,312	211,714	352,825

SHFE Market

	Zinc – Spot Month (RMB/mt)			RMB/USD
	SHFE Close	Settlement	Weighted Ave.	RMB/USD
July 15^th	13,050	13,005	13,188	1:6.8328
July 23^rd	13,655	13,705	13,513	1:6.8307

	Zinc – 3mth (RMB/mt)			Shanghai Spot 0# Zinc Ingot
	SHFE Close	Settlement	Weighted Ave.	Shanghai Spot 0# Zinc Ingot
July 15^th	13,220	13,110	13,351	13,025
July 23^rd	13,785	13,830	13,543	13,550

Summary

Yesterday, Shanghai 0# zinc was traded at RMB 13,550/mt, 1# zinc and imported zinc were traded at RMB 13,500/mt, the rising SHFE zinc price eroded the advantage of imported zinc, and the overall transactions were weak in the market. Guangdong 0# zinc was traded at RMB 13,450/mt, 1# zinc was traded at RMB 13,400/mt, and transactions remained weak in spot market, the downstream purchasing interest was sluggish, resulting in declining trading volumes. As to futures market, overnight LME zinc price moved up significantly, and yesterday SHFE zinc price opened higher and fluctuated lower negatively affected by falling copper price, and closed at RMB 13,785/mt. The dominant positions decreased sharply. The weak downstream demand restricted upward momentum for zinc price, and zinc price received downward pressure from RMB 14,000/mt.

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