LME Zinc to Consolidate at Highs (2016-11-7)-Shanghai Metals Market

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LME Zinc to Consolidate at Highs (2016-11-7)

Price Review & Forecast 09:26:09AM Nov 07, 2016 Source:SMM

SHANGHAI, Nov. 7 (SMM) – US October LMCI due for release today is expected to underperform September’s. Meanwhile, risk aversion will strengthen as US general election nears, driving up gold. The US dollar index will weaken. LME zinc will move between USD 2,460-2,500/mt today, and SHFE 1701 zinc should fluctuate between RMB 19,650-19,850/mt today, with spot premiums of RMB 70-90/mt against SHFE 1612 zinc.

Key Words:  zinc prices 

LME Zinc to Consolidate at Highs (2016-11-7)

Price Review & Forecast 09:26:09AM Nov 07, 2016 Source:SMM

SHANGHAI, Nov. 7 (SMM) – US October LMCI due for release today is expected to underperform September’s. Meanwhile, risk aversion will strengthen as US general election nears, driving up gold. The US dollar index will weaken. LME zinc will move between USD 2,460-2,500/mt today, and SHFE 1701 zinc should fluctuate between RMB 19,650-19,850/mt today, with spot premiums of RMB 70-90/mt against SHFE 1612 zinc.

Key Words:  zinc prices