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Home / Metal News / Shanghai Zinc to Fall on Selling Pressure (2015-12-16)

Shanghai Zinc to Fall on Selling Pressure (2015-12-16)

Dec 16, 2015 10:21

Source:SMM

Eurozone PMIs will be announced today, and the market will remain cautious ahead of Fed’s interest rate decision tomorrow morning.

SHANGHAI, Dec. 16 (SMM) – Eurozone PMIs will be announced today, and the market will remain cautious ahead of Fed’s interest rate decision tomorrow morning. LME zinc prices are expected to move between USD 1,490-1,520/mt today. SHFE 1602 zinc contract prices will drop to RMB 12,500-12,700/mt today.

See forecast for other base metals, please click: Market Eyes on Busy Data Calendar, with Stronger Caution, SMM Says

In China’s spot markets, zinc smelters will sell modestly. Hedge traders will sell aggressively, leaving supply sufficient. Spot zinc should trade RMB 50/mt below or RMB 80/mt above SHFE 1602 zinc contract prices.

Key Macroeconomic Indicators for Base Metal Prices (2015-12-16)

LME zinc prices

SHFE zinc prices

For queries, please contact William Gu at williamgu@smm.cn

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LME zinc will consolidate between USD 2,760-2,800/mt today, and SHFE 1705 zinc should fluctuate between moving averages and find support from the 60-day moving average, hovering between RMB 22,850-23,

Apr 6, 2017 09:18

SMM Comments

SHFE Zinc Prices to Experience Corrections (2017-4-6)

SHFE Zinc Prices to Stay Range-Bound (2017-3-6)

LME zinc will move between USD 2,760-2,810/mt today, and SHFE 1705 zinc should fluctuate between RMB 22,500-22,900/mt today, with spot prices RMB 110-80/mt below SHFE 1704 zinc.

Mar 6, 2017 09:47

SMM Comments

SHFE Zinc Prices to Stay Range-Bound (2017-3-6)

SHFE 1702 Zinc Closes with Losses (2016-12-27)

Profit at China’s large industrials was upbeat in November, helping base metals stabilize.

Dec 27, 2016 17:02

SMM Comments

SHFE Zinc to Remain Range-Bound (2016-12-2)

US November non-farm employment due for release today is promising, which will support the US dollar index.

Dec 2, 2016 09:29

SMM Comments

Zinc to Consolidate at Highs Next Week, SMM Says

LME zinc is expected to hover at highs between $2,250-2,320 per tonne next week, and SHFE October zinc will trade between 17,300-17,900 yuan per tonne, SMM foresees.

Aug 19, 2016 13:34

SMM Insight

SHFE 1610 zinc Closes with Gains (2016-8-16)

LME zinc closed at USD 2,263.5/mt yesterday.

Aug 16, 2016 17:33

SMM Comments

About 23% Chinese Investors Bullish toward Zinc, SMM Survey

SMM survey of 30 industry insiders finds that 50% are neutral, expecting LME zinc to fluctuate between USD 2,230-2,290/mt and SHFE 1609 zinc to fluctuate between RMB 17,200-17,600/mt.

Jul 26, 2016 10:14

SMM Comments

LME Zinc to Fall Initially before Rallying Next Week

LME zinc is expected to weaken early next week but then rally, moving in the $1,980-2,080 per tonne range, SMM predicts.

Jun 17, 2016 15:27

SMM Insight

47% Chinese Investors Bullish toward Zinc Price, SMM Survey

SMM survey of 30 industry insiders finds that about 47% are bullish toward zinc price trends this week, expecting LME zinc to challenge USD 2,050/mt.

Jun 7, 2016 09:36

SMM Comments

SHFE Zinc to Fluctuate at Highs (2016-4-5)

Crude oil price weakened.

Apr 5, 2016 09:39

SMM Comments

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Shanghai Zinc to Fall on Selling Pressure (2015-12-16)

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