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[Zn] SMM Morning Review - 2009/8/13 Zinc Market
SHANGHAI, Aug. 13 (SMM) -- LME Market
|
|
Close
(USD/mt)
|
Premium/Discount
|
Volume
(lot)
|
Position
(lot)
|
Inventory
(mt)
|
|
3-mth Contract
|
Spot – 3 mth
|
||||
|
July Average
|
1,606
|
-25.5
|
46,010
|
215,749
|
358,340
|
|
Aug. 12th
|
1,860
|
-28
|
47,450
|
214,148
|
432,500
|
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
|
|
Aug. 12th
|
14,550
|
14,640
|
13,928
|
1:6.8351
|
|
|
Zinc – 3mth (RMB/mt)
|
Shanghai Spot
#0 Zinc Ingot
|
||
|
SHFE Close
|
Settlement
|
Weighted Ave.
|
||
|
July 15th
|
13,220
|
13,110
|
13,351
|
13,025
|
|
Aug. 12th
|
14,750
|
14,890
|
13,735
|
14,675
|
Summary
On Wednesday, Shanghai #0 zinc was traded at RMB 14,650-14,700/mt, #1 zinc and imported zinc were traded at RMB 14,600/mt, SHFE zinc prices moved down, and downstream purchasing interest was low, resulting in weak spot transactions. Guangdong #0 zinc was traded at RMB 14,500/mt, #1 zinc was traded at RMB 14,450/mt, the continuous declines in SHFE zinc prices weighed on spot market, and market insiders were pessimistic towards market outlook. As to futures market, SHFE zinc prices continued to fluctuate yesterday, and then slumped in the afternoon negatively affected by stock markets. SHFE zinc prices fell to RMB 14,825/mt, down 1.9%, and positions increased by 11,750 lots.
Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
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