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Home / Metal News / SHFE Zinc to Test RMB 13,500/mt (2016-1-4)

SHFE Zinc to Test RMB 13,500/mt (2016-1-4)

iconJan 4, 2016 09:55
Source:SMM
China’s official manufacturing PMI rose slightly, and Caixin’s December PMI for China is expected to improve.

SHANGHAI, Jan. 4 (SMM) – China’s official manufacturing PMI rose slightly, and Caixin’s December PMI for China is expected to improve.

LME zinc is expected to move between USD 1,610-1,640/mt. SHFE 1603 zinc will fluctuate between RMB 13,350-13,550/mt today.

See forecast for other base metals, please click: Base Metal Market Starts 2016 Trading with Busy Data Calendar, SMM Reports

In China’s spot markets, zinc smelters will sell actively on rebounding zinc prices. When combined with slower inflows of imported zinc, downstream buyers will turn to domestic zinc. Increasing warrants on the SHFE means sluggish spot market. Downstream buyers will purchase as needed as cash crunch eased, with spot discounts between RMB 150-50/mt against SHFE 1602 zinc contract prices.

Key Macroeconomic Indicators for Base Metal Prices (2016-1-4)


LME zinc prices
SHFE zinc prices

For queries, please contact Michael Jiang at michaeljiang@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

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