SHFE Zinc to Remain Range-Bound (2016-6-20)-Shanghai Metals Market

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SHFE Zinc to Remain Range-Bound (2016-6-20)

Price Review & Forecast 09:44:04AM Jun 20, 2016 Source:SMM

SHANGHAI, Jun. 20 (SMM) – The number of respondents supporting UK to stay in the EU was slightly larger than those supporting a Brexit, bolstering the pound. As risk aversion eased, base metals are expected to stabilize. LME zinc is expected to fluctuate between USD 1,970-2,000/mt today. SHFE 1608 zinc should consolidate at RMB 15,450-15,650/mt today, and spot #0 zinc prices will trade RMB 20/mt below or RMB 10/mt above SHFE 1608 zinc.


SHFE Zinc to Remain Range-Bound (2016-6-20)

Price Review & Forecast 09:44:04AM Jun 20, 2016 Source:SMM

SHANGHAI, Jun. 20 (SMM) – The number of respondents supporting UK to stay in the EU was slightly larger than those supporting a Brexit, bolstering the pound. As risk aversion eased, base metals are expected to stabilize. LME zinc is expected to fluctuate between USD 1,970-2,000/mt today. SHFE 1608 zinc should consolidate at RMB 15,450-15,650/mt today, and spot #0 zinc prices will trade RMB 20/mt below or RMB 10/mt above SHFE 1608 zinc.