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Losses of bonded zinc ingots expand

Date 11/9/2018 3:42:38 PM Source: SHMET

SHANGHAI, Nov 9 (SHMET) – On November 9, import profit and loss ratio was significantly lower than November 8. Profits of brands not exempted from customs tariff turned into losses. Premiums for B/L Shanghai stood at $160-180/mt cif and those for warrants in Shanghai bonded warehouse quoted at $180-200/mt, unchanged from November 8.

LME cash zinc had a backwardation of $65/mt against LME 3M zinc. For brands not exempted from customs tariff, the SHFE/LME cash price ratio came in at 8.48, and at 8.54 for duty-free Australia, South Korea brand zinc ingots. For brands not exempted from customs tariff, spot import losses stood at 540 yuan/mt, and 821 yuan/mt in forward import. For duty-free Australia, South Korea brand products, spot import losses registered at 321 yuan/mt, and 767 yuan/mt in forward import. 

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