SHANGHAI, Dec. 23 (SMM) – US November durable goods orders are expected to fall, and November personal income and spending are expected to be mixed. The US dollar should fall further. Trading on the LME will be quiet today ahead of the Christmas holiday, with a large number of investors leaving the market. LME zinc prices are expected to move between 1,510-1,540/mt today. SHFE 1602 zinc contract prices will fluctuate between RMB 12,700-12,900/mt today.
See forecast for other base metals, please click: LME Market to See Light Trading ahead of Christmas Holiday, SMM Says
In China’s spot markets, zinc smelters will sell normally, and traders will sell at highs whilst buying at lower prices. Price spreads of domestic zinc will expand, and spot zinc should trade RMB 50/mt below or RMB 30/mt above SHFE 1602 zinc contract prices.
Key Macroeconomic Indicators for Base Metal Prices (2015-12-23)
