SHFE Zinc to Move at RMB 12,450-12,650/mt (2015-12-7)

Published: Dec 7, 2015 10:20

Save

The market will continue to absorb US strong non-farm payrolls and news that OPEC members will raise daily oil production.

SHANGHAI, Dec. 7 (SMM) – The market will continue to absorb US strong non-farm payrolls and news that OPEC members will raise daily oil production. LME zinc prices 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 at Lows to Grow in Base Metal Prices This Week, SMM Says

In China’s spot markets, zinc smelters will sell modestly, with additional arriving shipments of imported zinc. Traders will operate proactively. Spot premiums are expected to be RMB 100-150/mt against SHFE 1601 zinc contract prices.

Key Macroeconomic Indicators for Base Metal Prices (2015-12-7)

SHFE zinc prices LME zinc prices zinc prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

3 hours ago

SHFE zinc maintained range-bound trading with upside room blocked [SMM Zinc Morning Comment]

[SHFE Zinc Morning Comment] Overnight, SHFE zinc recorded a bearish candlestick, with the 20-day moving average forming resistance above and the 40-day moving average providing support below. SHFE zinc fluctuated within a range overnight. On the fundamentals side, social inventory increased by more than 35,000 mt as consumption has not yet recovered, limiting upside room, and...

3 hours ago

US dollar strengthens LME zinc center slightly sinks [SMM Morning Meeting Summary]

[smm morning meeting summary: us dollar strengthens lme zinc center slightly sinks] overnight, lme zinc recorded a four-day losing streak, with the 40-day moving average providing support below. as geopolitical risks in the middle east increased, the strengthening of the us dollar put pressure on non-ferrous metals, causing lme zinc to retreat after a rapid rise and its center to shift downward.

3 hours ago

19 hours ago

Geopolitical Conflicts Intensify SHFE Zinc Rises During Daytime [SMM Zinc Futures Brief]

[Geopolitical Tensions Intensify SHFE Zinc Rises During Daytime]: The Most-Traded SHFE Zinc 2604 Contract Opened at 24,590 Yuan/mt. After Opening, SHFE Zinc Fluctuated and Rose, Reaching a Low of 24,425 Yuan/mt Early in the Session and Peaking at 24,880 Yuan/mt Towards the End, Finally Closing Up at 24,850 Yuan/mt.

19 hours ago