Zinc – Zinc prices followed the strength of the copper prices

Date 2/13/2018 3:52:38 PM Source: SHMET

Zinc Premiums in Shanghai bonded, and CIF shanghai saw no change, at $155-$165/mt and $160-$170/mt respectively. Today LME C-3m valued at 26B, while the SHFE Spot/LME 3M arb also retreated to around 7.59, the spot import loss to RMB816/mt and expanding loss slightly in forward market, around RMB914/mt lost. Custom duty exempt brands, Australian and Korean, still generate quite a loss of RMB707/mt in spot import market, but it may lose RMB638/mt in forward import.

LME zinc c-3m basis is closing at $26B, with the squeeze being not slightly relieved. Zinc prices followed the strength of the copper prices, but with no change in the position. There is no improvement of transaction in the spot market. Zinc premium market enquiries are light, with the transactions being general. 

Edited by SHMET