LME Zinc to Range Narrowly (2016-2-15)

Published: Feb 15, 2016 10:32

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LME zinc is predicted to range USD 1,690-1,720/mt during Asian trading hours on Monday.

SHANGHAI, Feb. 15 (SMM) – LME zinc is predicted to range USD 1,690-1,720/mt during Asian trading hours on Monday.

Eyes will be on China’s trade data today. Crude oil prices rallied last Friday, fueling market sentiment. Today is the first trading day after Chinese New Year holiday while is the last trading day for SHFE 1602 lead. The offshore RMB gained last week and the SMM/LME zinc price ratio will likely go up.

SHFE 1604 zinc will rally to RMB 13,800-14,000/mt today and in China’s spot market, traders start to move goods out while some downstream buyers have not entered market. #0 zinc should be offered at discounts of RMB 130-180/mt against SHFE 1604 zinc.

Key Macroeconomic Indicators for Base Metal Prices (2016-2-15)

LME zinc prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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