SHFE Zinc to Rally (2016-10-12)

Published: Oct 12, 2016 09:42

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Chinese yuan’s devaluation accelerated after yuan was included in special drawing rights (SDR).

SHANGHAI, Oct. 12 (SMM) – Chinese yuan’s devaluation accelerated after yuan was included in special drawing rights (SDR). The US dollar index should rebound. LME zinc will fluctuate between USD 2,240-2,270/mt today, and SHFE 1612 zinc should hover between RMB 17,750-17,950/mt today, with spot premiums of RMB 90-110/mt against SHFE 1611 zinc.

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