SHFE Zinc to Move at RMB 12,450-12,650/mt (2015-12-9)

Published: Dec 9, 2015 09:42

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China’s November CPI and PPI scheduled for release today are not promising, and will continue to depress market.

SHANGHAI, Dec. 9 (SMM) – China’s November CPI and PPI scheduled for release today are not promising, and will continue to depress market. LME zinc prices are expected to move between USD 1,505-1,535/mt today. SHFE 1602 zinc contract prices will fluctuate between RMB 12,450-12,650/mt today.

See forecast for other base metals, please click: Shanghai Base Metal Prices to Diverge, Eying on China Data, SMM Says

In China’s spot markets, zinc smelters will sell modestly, and traders will move goods actively. When combined with additional arriving shipments of imported zinc, supplies will remain ample, weighing down spot premiums to RMB 20-80/mt against SHFE 1601 zinc contract prices.

Key Macroeconomic Indicators for Base Metal Prices (2015-12-9)

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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