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Gold/Mining/Energy : ZINC The base metal. News and Views. Symbol Zn
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To: Claude Cormier who wrote (192)6/14/1999 12:38:00 PM
From: Stephen O  Read Replies (1) of 3270
 
MB - - Lower Chinese shipments spark rise in Singapore premiums
6/14/99 7:52

June 11 (Metal Bulletin) - Lower shipments of zinc ingots from
China to Singapore have sparked a rise in Singapore in-
warehouse premiums for the metal. Singapore in-warehouse
premiums for Chinese material were widely quoted from $10-15
and Korean material was offered at $12-15 per tonne over LME.

But some Chinese material was even offered up to $25 per tonne,
traders said. Premiums were previously at around $6-9 per
tonne. "One Chinese smelter has diverted its June shipments
mainly to the USA," one Japanese trader said.

China's financially troubled Huludao Zinc Smelter is said to
have delayed shipments to its customers in Singapore and
elsewhere in Asia because it could not maintain its production
schedules, but its LME-registered HX brand zinc was still
available in the market, traders said.

But a source from Zhuzhou Smelter, another major Chinese
producer, said no export shipments to Singapore are scheduled
in June. "In June we have no shipments to Singapore as they
are shifted to the USA this month,"the source revealed.
Zhuzhou's June exports to the USA would be around 6,000 tonnes,
he said. The smelter also has export contracts with Japanese,
South Korean, Indonesian and Taiwanese end-users, the source
said.

Metal Bulletin newsroom, London Tel +44 171 827 9977 Fax +44
171 928 6892 New York Tel +1 212 213 6202 Fax +1 212 213
6273
-0- (BN ) Jun/14/1999 7:52
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