






SHANGHAI, Oct. 13 (SMM) -- LME Market
|
Close
(USD/mt)
|
Premium/Discount
|
Volume
(lot)
|
Position
(lot)
|
Inventory
(mt)
|
3-mth Contract
|
Spot – 3 mth
|
||||
September Average
|
1,902
|
-27
|
45,704
|
221,796
|
436,161
|
Oct. 12th
|
2,085
|
-26.5
|
44,481
|
242,996
|
432,025
|
SHFE Market
|
Zinc – Spot Month (RMB/mt)
|
RMB/USD
|
||
SHFE Close
|
Settlement
|
Weighted Ave.
|
||
Sept. 15th
|
14,850
|
14,790
|
14,856
|
1:6.8284
|
Oct. 12th
|
15,650
|
15,605
|
15,109
|
1:6.8275
|
|
Zinc – 3mth (RMB/mt)
|
Shanghai Spot
#0 Zinc Ingot
|
||
SHFE Close
|
Settlement
|
Weighted Ave.
|
||
Sept. 15th
|
15,045
|
14,950
|
14,863
|
14,765
|
Oct. 12th
|
15,810
|
15,855
|
15,229
|
15,435
|
Summary
On Monday, spot transactions were lukewarm in Shanghai market, #0 zinc was traded at RMB 15,420-15,450/mt, and #1 zinc was traded at RMB 15,400/mt, with more inquiries but limited trading volume. The purchasing interest of downstream manufacturers grew gradually. Guangdong #0 zinc was traded at RMB 15,350/mt, and #1 zinc and imported zinc were traded at RMB 15,300/mt. Zinc prices experienced marked recovery at noon, but the trading sentiment was general in the market, with low buying interest.
As to futures market, SHFE zinc prices opened low, but SHFE 1001 contracts zinc prices soared to RMB 16,115/mt at noon, and closed at RMB 15,935/mt finally. Total positions increased by more than 20,000 lots to 82,010 lots. SHFE three-month contracts zinc prices stabilized above all average lines, so zinc prices are expected to continue to climb in the short term.
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