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.