SHANGHAI, Dec. 24 (SMM) – The LME market will close this evening due to the Christmas holiday. Investors should retreat due to risk aversion, with LME zinc prices expected to move between 1,535-1,565/mt today. SHFE 1602 zinc contract prices will fluctuate between RMB 12,850-13,050/mt today.
See forecast for other base metals, please click: Base Metal Prices to Rise in Asian Trading Hours as LME closed, SMM Says
In China’s spot markets, zinc smelters will sell actively at higher prices, and some hedge traders will stay on the sidelines due to the lack of arbitrage opportunities. Spot zinc should trade RMB 0-80/mt below SHFE 1602 zinc contract prices.