






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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