Zinc to Strengthen Further (2016-11-14)

Price Review & Forecast 09:26:02AM Nov 15, 2016 Source:SMM

SHANGHAI, Nov. 14 (SMM) – US October retail sales in October and New York Fed’s manufacturing index in November slated for release today are promising, and this will drive up the US dollar. Onshore yuan plunged 200 yesterday to a 7-year low. Chinese yuan may continue to weaken, lending support to base metals.

LME zinc will move between USD 2,550-2,610/mt today, and SHFE 1701 zinc should fluctuate between RMB 20,900-21,450/mt today, with spot premiums of RMB 50-60/mt against SHFE 1701 zinc.

Key Words:  zinc prices 

Zinc to Strengthen Further (2016-11-14)

Price Review & Forecast 09:26:02AM Nov 15, 2016 Source:SMM

SHANGHAI, Nov. 14 (SMM) – US October retail sales in October and New York Fed’s manufacturing index in November slated for release today are promising, and this will drive up the US dollar. Onshore yuan plunged 200 yesterday to a 7-year low. Chinese yuan may continue to weaken, lending support to base metals.

LME zinc will move between USD 2,550-2,610/mt today, and SHFE 1701 zinc should fluctuate between RMB 20,900-21,450/mt today, with spot premiums of RMB 50-60/mt against SHFE 1701 zinc.

Key Words:  zinc prices