SHFE Zinc to Remain Range-Bound (2016-8-29)

Published: Aug 29, 2016 09:26

Save

Market expectations that the Fed will raise rate in the near term increased, driving up the US dollar index.

SHANGHAI, Aug. 29 (SMM) – Market expectations that the Fed will raise rate in the near term increased, driving up the US dollar index. The LME market will be closed today due to the Summer Bank Holiday. Positions on SHFE zinc reached 650,000. SHFE 1610 zinc should fluctuate between RMB 17,900-18,100/mt today, and spot #0 zinc prices will trade RMB 70-100/mt above SHFE 1610 zinc.

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.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

36 mins ago

EGA Restarts Alumina Production at Al Taweelah, Aiming for Full Capacity by 2026 End

[SMM Aluminum Express News] EGA has restarted alumina production at its Al Taweelah refinery after a 3.5-month shutdown, with output expected to reach 50% of capacity within days and full technical production capability by the end of 2026. The refinery produced 2.4 million tonnes of alumina in 2025, supplying 46% of EGA's alumina requirements. The restart follows the resumption of hydrate production on 24 June and is expected to ease concerns over alumina supply, although the pace of further ramp-up will depend on bauxite supply chain optimisation. Meanwhile, the Al Taweelah smelter has restarted 89 of its 1,262 reduction cells, with full smelter recovery expected to take up to one year.

36 mins ago

37 mins ago

Columbia Falls Aluminum Plant Cleanup Begins After $57M EPA Settlement

[SMM Aluminum Express News] The cleanup of the former Columbia Falls Aluminum plant in Montana will begin after a US$57 million settlement with the US Environmental Protection Agency (EPA). The agreement funds the demolition of remaining smelter infrastructure, hazardous material removal, and long-term environmental remediation, advancing redevelopment of the idled primary aluminium smelter site while addressing decades of contamination.

37 mins ago

1 hour ago

Central China market trading atmosphere stayed high, buying sentiment in east China rebounded MoM [SMM spot aluminum midday review]

1 hour ago