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Zinc – basis of the foreign market is narrowed and domestic prices have a strength

Date 2/14/2018 11:56:13 AM 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 22.5B, while the SHFE Spot/LME 3M arb also retreated to around 7.46, the spot import loss to RMB1267/mt and expanding loss slightly in forward market, around RMB965/mt lost. Custom duty exempt brands, Australian and Korean, still generate quite a loss of RMB1128/mt in spot import market, but it may lose RMB657/mt in forward import.

LME zinc c-3m basis is closing at $22.5B, with the squeeze being not slightly relieved. The basis of the foreign market is narrowed. Domestic prices have a strength, with a focus on the consumption and the opening rate after the holiday. There is no improvement of transaction in the spot market. Zinc premium market enquiries are light, with the transactions being general. 

Edited by SHMET