






SHANGHAI, July 28 (SMM) -- 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 27th
|
1,705
|
-25.5
|
50,704
|
209,920
|
360,400
|
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 27th
|
14,250
|
14,105
|
13,589
|
1:6.8316
|
|
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 27th
|
14,445
|
14,245
|
13,608
|
13,925
|
Summary
Yesterday, Shanghai 0# zinc was traded at RMB 13,900-13,950/mt, 1# zinc and imported zinc were traded at RMB 13,850-13,900/mt, the prices advanced and the wait-and-see sentiment dominated the market, and overall transactions were moderate in spot market. Guangdong 0# zinc was traded at RMB 13,900-13,950/mt, 1# zinc was traded at RMB 13,850-13,900/mt, SHFE zinc prices gained at noon, and spot prices moved up slightly as well, but the downstream purchasing interest was low, with wait-and-see attitude dominating market players. As to futures market, overnight LME zinc price advanced further, and yesterday SHFE zinc prices opened high and went higher, and continued to rise rapidly at noon, with SHFE zinc 0911 contracts prices closing at RMB 14,565/mt, up 4.1%. Both trading volumes and positions increased, and SHFE zinc prices still own upward momentum in the short term.
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