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Home / Metal News / Shanghai Zinc to Hover around 20-Day Moving Average (2015-12-17)

Shanghai Zinc to Hover around 20-Day Moving Average (2015-12-17)

Dec 17, 2015 10:03

Source:SMM

The US dollar rose after Fed rate hike decision, weighing down base metals.

SHANGHAI, Dec. 17 (SMM) – The US dollar rose after Fed rate hike decision, weighing down base metals.LME zinc prices dipped yesterday and are expected to move between USD 1,500-1,530/mt today. SHFE 1602 zinc contract prices will hover between RMB 12,550-12,750/mt today.

See forecast for other base metals, please click: No Big Impact on Base Metal Prices from US Rate Hike, SMM Says

In China’s spot markets, zinc smelters will sell normally. Traders will sell aggressively, leaving supply sufficient. Spot zinc should trade RMB 0-100/mt below SHFE 1602 zinc contract prices.

Key Macroeconomic Indicators for Base Metal Prices (2015-12-17)

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 exchanges, and relying on SMM's internal database model, for reference only and do not constitute decision-making recommendations.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

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Shanghai Zinc to Hover around 20-Day Moving Average (2015-12-17)

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