SHANGHAI, Dec. 29 (SMM) – The LME market reopened today, with LME zinc expected to move between USD 1,535-1,565/mt. SHFE 1603 zinc will rise to RMB 12,900-13,100/mt today.
See forecast for other base metals, please click: Strong Dollar to Pressure the Light Trading Market, SMM Says
In China’s spot markets, zinc smelters will sell actively. Hedge traders will sell actively. Inflows of imported zinc slowed at the year’s end, with price spread between domestic and imported copper narrowing. Spot discounts will be RMB 100-20/mt against SHFE 1602 zinc contract prices.