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

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

Price Review & Forecast 09:34:27AM Jun 24, 2016 Source:SMM

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

Price Review & Forecast 09:34:27AM Jun 24, 2016 Source:SMM

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)