Home / Metal News / [Zn] SMM Morning Review - 2009/7/29 Zinc Market

[Zn] SMM Morning Review - 2009/7/29 Zinc Market

iconJul 29, 2009 00:00

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.

 

Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.

None of this material may be used for any commercial or public use in any form or means, without the prior written consent of CBI China. For reproduction issue, please contact us by email: metalresearch@cbichina.com or tel:86-21-51550040

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn