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

Published: Dec 16, 2015 10:21

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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

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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