SHANGHAI, Dec. 3 (SMM) – LME zinc prices fell below all moving averages and are expected to move between USD 1,530-1,560/mt today. SHFE 1602 zinc contract prices will fluctuate between RMB 12,450-12,650/mt.
See forecast for other base metals, please click: Volatility up in Base Metal Market on Sensitive News, SMM Says
In China’s spot markets, zinc smelters will sell proactively to generate cash, with trade between traders lackluster. Downstream buyers will purchase as needed. Spot premiums are expected to be RMB 120-160/mt against SHFE 1601 zinc contract prices.