SHANGHAI, Nov. 27 (SMM) – LME zinc prices are expected to test the 20-day moving average and move between USD 1,600-1,630/mt today. SHFE 1602 zinc contract prices will hover between RMB 13,100-13,300/mt.
See forecast for other base metals, please click: Short-Covering Strength to Wane, with Aluminum and Nickel Stronger, SMM Says
In China’s spot markets, zinc smelters will sell at higher prices. Shipments arriving from Guangdong to Shanghai will weigh down spot premiums further in Shanghai. Spot #0 zinc prices will trade RMB 30-100/mt above SHFE 1601 zinc contract prices.