SHFE Zinc to Hold Firm (2016-6-29)

Published: Jun 29, 2016 09:38

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SHFE 1608 zinc should remain strong on June 29 and range RMB 16,000-16,400/mt with longs entering market.

SHANGHAI, Jun. 29 (SMM) – SHFE 1608 zinc should remain strong on June 29 and range RMB 16,000-16,400/mt with longs entering market.

Markets expect US core PCE price index for May to be positive and thus the improving inflation data may quicken the rate hike pace by US Fed. Market sentiment picks up following the release of UK’s referendum result.

LME zinc is expected to move between USD 2,050-2,100 today. Spot #0 zinc prices will trade RMB 20-50/mt below SHFE 1608 zinc.

Key Macroeconomic Indicators for Base Metal Prices (2016-6-29)

SHFE zinc prices Zn Price

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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