






SHANGHAI, Aug. 3 (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 31st
|
1,750
|
-25
|
47,692
|
209,837
|
393,225
|
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 31st
|
14,300
|
14,255
|
13,686
|
1:6.8323
|
|
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 31st
|
14,510
|
14,395
|
13,648
|
14,050
|
Summary
Last Friday, Shanghai 0# zinc was traded at RMB 14,000-14,100/mt, 1# zinc and imported zinc were traded at RMB 13,950-14,000/mt, zinc prices climbed again, depressed downstream purchasing interest, and overall transactions were weak. SHFE zinc prices increased to daily limit, generating the downstream buying interest, Guangdong 0# zinc was traded at RMB 14,050-14,100/mt, 1# zinc was traded at RMB 14,000/mt. As to futures market, overnight LME zinc prices advanced, and SHFE zinc prices also showed strong performance. Both SHFE zinc and copper prices increased to daily limit at noon. SHFE zinc three-month contract prices closed at a new high of RMB 14,610/mt, and both volumes and positions reported no significant increases. SHFE zinc prices are expected to continue to fluctuate widely during this week.
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