SHANGHAI, Dec. 30 (SMM) – Market sentiment in the commodity market improved.LME zinc is expected to move between USD 1,585-1,615/mt. SHFE 1603 zinc will fluctuate between RMB 13,300-13,500/mt today.
See forecast for other base metals, please click: Diverging Trends Expected in Base Metal Market, SMM Says
In China’s spot markets, zinc smelters will sell actively on rising zinc prices. Hedge traders will stay on the sidelines. Inflows of imported zinc slowed at the year’s end. Downstream buyers will purchase only modestly, with spot discounts between RMB 160-60/mt against SHFE 1602 zinc contract prices.