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SHFE Zinc to Inch down (2016-5-3)

Published: May 3, 2016 09:28
China’s official manufacturing PMI in April was above 50, but fell short of market expectations.

SHANGHAI, May 3 (SMM) – China’s official manufacturing PMI in April was above 50, but fell short of market expectations. Caixin’s April manufacturing PMI for China will be released today. Gold surged above USD 1,300/mt, while crude oil weakened. LME zinc is expected to weaken to USD 1,900-1,940/mt today. SHFE 1607 zinc should fall to RMB 15,100-15,300/mt today, and spot #0 zinc prices will trade RMB 60-10/mt below SHFE 1607 zinc.

Key Macroeconomic Indicators for Base Metal Prices (2016-5-3)


SHFE zinc pricesLME 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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SHFE Zinc to Inch down (2016-5-3) - Shanghai Metals Market (SMM)