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[Zn] SMM Morning Review - 2009/8/27 Zinc Market

iconAug 27, 2009 00:00

SHANGHAI, Aug. 27 (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. 26th          
1,840
-29
38,890
219,214
433,225

SHFE Market

 
Zinc – Spot Month (RMB/mt)
RMB/USD
SHFE Close
Settlement
Weighted Ave.
Aug. 17th            
14,315
14,285
13,948
1:6.8333
Aug. 26th             
15,110
15,115
14,704
1:6.8313
 

 
Zinc – 3mth (RMB/mt)
Shanghai Spot
#0 Zinc Ingot
SHFE Close
Settlement
Weighted Ave.
Aug. 17th       
14,515
14,530
13,528
14,300
Aug. 26th        
15,350
15,315
14,811
15,000

Summary

On Wednesday, Shanghai #0 zinc was traded at RMB 15,000/mt, #1 zinc was traded at RMB 14,950/mt and imported zinc supply was limited in the market. SHFE zinc prices moved upward, and transactions were general. Guangdong #0 zinc was traded at RMB 14,950/mt, #1 zinc and imported zinc were traded at RMB 14,850-14,950/mt. Spot market sentiment improved slightly compared to previous day, but some downstream buyers still held a wait-and-see attitude, leaving general transactions.

As to futures market, LME zinc prices fluctuated, and SHFE zinc prices moved higher following the upward trend of stock markets and SHFE copper prices, with 0912 contracts closing at RMB 15,455/mt. Positions increased as well. Particular attentions focus on the upcoming economic data in the US.

 

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