SMM Zinc Market Morning Review (2013-11-14)

SHANGHAI, Nov. 14 (SMM) – LME zinc prices opened at USD 1,884.8/mt, then hovered within a USD 14/mt price range, closing at USD 1,889.5/mt, up USD 3.5/mt, but maintaining a downward track. The market was still worrying that China’s economic reform may lead to a downshift in metal growth. A series of major economic data will be released from Japan, Europe and the US today, and LME copper prices may drag down LME zinc prices, but any declines will be limited today.

LME zinc prices are expected to move between USD 1,870-1,890/mt today, and SHFE 1401 zinc contract prices should hover between RMB 14,730-14,800/mt, with spot premiums expanding to RMB 100-140/mt against SHFE 1401 zinc contract prices.