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

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

Price Review & Forecast 09:26:56AM Aug 29, 2016 Source:SMM

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

Price Review & Forecast 09:26:56AM Aug 29, 2016 Source:SMM

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.