Shanghai Copper, Zinc Fall Sharply on LME Losses, Firm Dollar

Market focus this week include: the annualised reading of new housing starts in the United States in August, the initial value of the manufacturing PMI in the Eurozone in September, and the initial value of the Markit manufacturing PMI in the United States in September; China's one-year loan market quotation interest rate as of September 22. In terms of events, FOMC will announced the interest rate resolutions this Thursday; the Fed Chairman Powell will hold a press conference; and the European Central Bank will announces an economic bulletin.

Many zinc traders contributed the surge in zinc market mainly to two factors, 21st Century Business Herald reported. 

Mining production in Peru grew 7 per cent in June, according to its National Institute of Statistics and Information. 

The price spread between domestic and imported zinc has narrowed recently, SMM noted.

How much copper output is being affected by unit maintenance at Chinese copper smelters during the first half of 2017?

Jiangxi Copper posted a 21.93 percent year-on-year growth of net profits in 2016, up to 841 million yuan, the company said in its 2016 financial report. 

 India's major brass and copper scrap prices remained flat on Tuesday.

India's major brass and copper scrap prices dropped on Monday tracking weakness from copper futures prices at India's Multi Commodity Exchange after workers at Escondida, ended their strike.

India's major brass and copper scrap prices advanced on Tuesday, while copper futures prices at India's Multi Commodity Exchange edged up.

Copper prices will return to 35,000 yuan per tonne as market fundamentals are getting worse, Futures Daily predicted.