SHFE Zinc to Challenge 20-Day Moving Average (2015-12-10)

Published: Dec 10, 2015 09:55

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The market will eye on news of buyout by China’s State Reserve Bureau (SRB) today.

SHANGHAI, Dec. 10 (SMM) – The market will eye on news of buyout by China’s State Reserve Bureau (SRB) today. Continuously falling crude oil prices will depress markets. LME zinc prices are expected to move between USD 1,515-1,545/mt today. SHFE 1602 zinc contract prices will fluctuate between RMB 12,500-12,700/mt today.

See forecast for other base metals, please click: Shanghai Base Metal Prices to Rise on Positive News, SMM Says

In China’s spot markets, zinc smelters will sell modestly, and additional arriving shipments of imported zinc will hit domestic zinc prices. Spot prices will range from RMB 20/mt below to RMB 40/mt above SHFE 1601 zinc contract prices.

Key Macroeconomic Indicators for Base Metal Prices (2015-12-10)

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.

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