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Shanghai Zinc Faces Selling Pressure (2015-12-15)
Dec 15,2015 09:51CST
price review forecast
Source:SMM
US November core CPI is scheduled for release today, which is expected to reach 2%, a level required for a possible interest rate hike by the Fed.

SHANGHAI, Dec. 15 (SMM) – US November core CPI is scheduled for release today, which is expected to reach 2%, a level required for a possible interest rate hike by the Fed. Market expectations grow that the Fed will raise interest rate in December. LME zinc prices are expected to move between USD 1,535-1,565/mt today. SHFE 1602 zinc contract prices will fluctuate between RMB 12,750-12,950/mt today.

See forecast for other base metals, please click: Diverging Trends to Intensify in Base Metal Market, SMM Says

In China’s spot markets, zinc smelters will sell at higher prices. Traders will sell aggressively to generate cash, leaving supply sufficient and weighing on spot discounts. Continuous inflows of imported zinc will hit domestic zinc prices. Spot premiums should widen to RMB 80/mt against SHFE 1602 zinc contract prices.

Key Macroeconomic Indicators for Base Metal Prices (2015-12-15)


LME zinc prices
SHFE zinc prices
zinc prices

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