Zinc - SHMET Import Market Briefing 20170811

Date 8/11/2017 4:17:47 PM Source: SHMET

Zinc Premiums in Shanghai bonded and CIF shanghai recorded tender ups these days, to $175-$185/mt and $165-$175/mt respectively. Yesterday LME C-3m valued remained unchanged at $11 while the SHFE Spot/LME 3M arb saw a slightly decrease to 8.38, indicating an spot import loss of RMB170/mt and that deeper in forward market, around RMB530/mt. Custom duty exempt brands, Australian and Korean, enjoy a gain of RMB70/mt in spot import market but still may lose RMB280/mt in forward import. Earthquake in Jiuzhaigou, Szchuan dampened the premiums for spot market with imported Zinc premiums continuing to be high. SMC ingots became a hot topic. Traders are hoarding physical Zinc, limiting contracted offers, hence weak market continued.

Edited by SHMET