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[Zn] SMM Morning Review - 2009/7/31 Zinc Market

iconJul 31, 2009 00:00

SHANGHAI, July 31 (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 30th       
1,710
-25
36,788
208,366
393,425

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 30th            
13,765
13,685
13,645
1:6.8335
 

 
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 30th       
13,960
13,820
13,640
13,625

Summary

On Thursday, Shanghai 0# zinc was traded at RMB 13,600-13,650/mt, 1# zinc was traded at RMB 13,570-13,600/mt. SHFE zinc prices fluctuated, while trading sentiment remained weak in spot market, but overall transactions improved slightly. SHFE zinc prices gained some losses at noon, but Guangdong market remained quiet, with limited inquiries. 0# zinc was traded at RMB 13,650/mt, 1# zinc and imported zinc were traded at RMB 13,550-13,600/mt. As to futures market, overnight LME zinc price moved downward, and SHFE zinc prices continued to fall, but gained some losses at noon propelled by rebounding SHFE aluminum prices. SHFE zinc three-month contract prices closed at RMB 14,030/mt. The fluctuation range for SHFE zinc prices climbed markedly, and zinc prices are expected to fluctuate narrowly in the near future.

 

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