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

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

Price Review & Forecast 09:28:48AM May 03, 2016 Source:SMM

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 to Inch down (2016-5-3)

Price Review & Forecast 09:28:48AM May 03, 2016 Source:SMM

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)