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[Zn] SMM Morning Review - 2009/7/28 Zinc Market

iconJul 28, 2009 00:00

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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