Zinc- zinc prices rise slightly

Date 1/12/2018 4:50:02 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 7.67, the spot import loss to RMB1349/mt and expanding loss slightly in forward market, around RMB1202/mt lost. Custom duty exempt brands, Australian and Korean, still generate quite a loss of RMB1039/mt in spot import market, but may lose RMB893/mt in forward import.

LME zinc c-3m basis is closing at $26. LME stocks fell quickly, beware of that there will be a squeeze again. Impacted by the environment crackdown, domestic zinc concentrate production is under certain limitation. The tight supply of short-term zinc concentrate continues and the price of spot zinc is expected to rise slightly today, with no improvement in the market. Zinc premium market enquiries are light, with the transactions being general. 

Edited by SHMET