Zinc to Strengthen Further (2016-11-14)

Published: Nov 15, 2016 09:26

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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 t

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.

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.

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