SHFE Zinc to Remain Range-Bound (2016-6-24)

Published: Jun 24, 2016 09:34

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Nearly 60% regions supported the UK to leave the EU for now, increasing risk appetite.

SHANGHAI, Jun. 24 (SMM) – Nearly 60% regions supported the UK to leave the EU for now, increasing risk appetite. The US dollar index surged to 94, weighing on base metals. But zinc was relatively strong. Continuously sliding TCs of domestic and imported zinc concentrate mean supply tightness.

LME zinc is expected to move between USD 2,000-2,040/mt today. SHFE 1608 zinc should consolidate at RMB 15,500-15,700/mt today, and spot #0 zinc prices will trade RMB 30-0/mt below SHFE 1608 zinc.

Key Macroeconomic Indicators for Base Metal Prices (2016-6-24)

SHFE zinc prices 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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