






SHANGHAI, Oct. 20 (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. 19th
|
2,120
|
-26.5
|
34,968
|
246,494
|
427,525
|
SHFE Market
|
Zinc – Spot Month (RMB/mt)
|
RMB/USD
|
||
SHFE Close
|
Settlement
|
Weighted Ave.
|
||
Oct. 15th
|
15,580
|
15,665
|
15,217
|
1:6.8267
|
Oct. 19th
|
15,820
|
15,825
|
15,796
|
1:6.8275
|
|
Zinc – 3mth (RMB/mt)
|
Shanghai Spot
#0 Zinc Ingot
|
||
SHFE Close
|
Settlement
|
Weighted Ave.
|
||
Oct. 15th
|
15,810
|
15,920
|
15,250
|
15,575
|
Oct. 19th
|
16,105
|
16,100
|
16,054
|
15,700
|
Summary
On Monday, Shanghai #0 zinc was traded at RMB 15,700/mt, and #1 zinc was traded at RMB 15,650/mt. SHFE zinc prices moved up, but inquiries from downstream consumers were limited, and transactions were cautious. Spot market remained neutral. Guangdong #0 zinc was traded at RMB 15,450-15,500/mt, and #1 zinc was traded at RMB 15,400-15,450/mt, the spot market was bearish, and transactions were limited.
As to futures market, SHFE zinc prices opened low but went higher, and SHFE three-month contract zinc prices closed at RMB 16,105/mt, and the trading volume increased sharply, and positions soared by 15,000 lots to 116,800 lots. SHFE zinc prices are expected to rise further in the short term.
Copyright © 2009, CBI (Shanghai) Co., Ltd. All Rights Reserved.
None of this material may be used for any commercial or public use in any form or means, without the prior written consent of CBI China. For reproduction issue, please contact us by email: metalresearch@cbichina.com or tel:86-21-51550040
For queries, please contact Lemon Zhao at lemonzhao@smm.cn
For more information on how to access our research reports, please email service.en@smm.cn