






SHANGHAI, July 30 (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 29th
|
1,650
|
-25.5
|
49,883
|
209,016
|
378,075
|
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 29th
|
13,620
|
13,865
|
13,639
|
1:6.8314
|
|
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 29th
|
13,790
|
13,970
|
13,637
|
13,775
|
Summary
On Wednesday, Shanghai 0# zinc was traded at RMB 13,750-13,800/mt, 1# zinc was traded at RMB 13,700-13,750/mt and imported zinc was traded at RMB 13,650/mt, the wait-and-see sentiment dominated the market after SHFE zinc prices plunged, and traded prices were mixed, with lukewarm transactions. Guangdong 0# zinc was traded at RMB 13,700/mt, 1# zinc was traded at RMB 13,650/mt, market trading volumes were very limited. As to futures market, overnight LME zinc price slumped, and SHFE three-month contract zinc prices fell by 4% to RMB 13,855/mt yesterday dragged down by plunged copper prices and stock markets, with panic sell-off activities appearing in the market. Zinc prices have lost previous gains and should find support at RMB 13,600/mt.
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