SHFE Zinc to Move at RMB 12,400-12,650/mt (2015-12-8)

Published: Dec 8, 2015 10:01

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Strong short momentum on crude oil market should drag down base metals.

SHANGHAI, Dec. 8 (SMM) – Strong short momentum on crude oil market should drag down base metals. LME zinc prices are expected to move between USD 1,505-1,535/mt today. SHFE 1602 zinc contract prices will be more resistant to declines overnight, but will fall to RMB 12,400-12,650/mt today.

See forecast for other base metals, please click: Shanghai Base Metal Prices to Stay Weak, SMM Says

In China’s spot markets, zinc smelters will sell modestly, and hedge traders will release goods, with additional arriving shipments of imported zinc. Spot premiums are expected to be RMB 90-160/mt against SHFE 1601 zinc contract prices.

Key Macroeconomic Indicators for Base Metal Prices (2015-12-8)

zinc prices LME zinc prices SHFE 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.

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