






SHANGHAI, July 29 (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 28th
|
1,688
|
-25.5
|
58,285
|
209,743
|
368,475
|
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 28th
|
14,200
|
14,145
|
13,615
|
1:6.8310
|
|
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 28th
|
14,395
|
14,330
|
13,624
|
13,975
|
Summary
On Tuesday, Shanghai 0# zinc was traded at RMB 13,950-14,000/mt, 1# zinc was traded at RMB 13,900/mt and imported zinc was traded at RMB 13,900-13,950/mt, the downstream buying interest was low, and overall transactions were weak in spot market. Guangdong 0# zinc was traded at RMB 13,950/mt, 1# zinc was traded at RMB 13,900/mt, spot market reported a weak performance, and weak transactions exerted downward pressure on zinc prices. As to futures market, overnight LME zinc price moved upward, and yesterday SHFE zinc prices fluctuated in the high level, and some profit-takings limited upward momentum for zinc prices, and SHFE zinc 0911 contract prices closed at RMB 14,505/mt. SHFE zinc prices will continue to fluctuate upward propelled by positive economic data and speculative funds.
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