SHANGHAI, Dec. 1 (SMM) – China’s official and Caixin’s November PMI will be released today. Both Minxin manufacturing and service PMI in November slid, meaning Chinese economy is on its way down. This will depress market sentiment.
LME zinc prices are expected to move between USD 1,535-1,565/mt today. SHFE 1602 zinc contract prices will fluctuate between RMB 12,600-12,800/mt.
See forecast for other base metals, please click: Shanghai Base Metals to Diverge, SMM Says
In China’s spot markets, zinc smelters will sell modestly. Traders will keep spot premiums high, selling at highs whilst buying at lows, with spot premiums between RMB 120-200/mt against SHFE 1601 zinc contract prices.