SHFE 1701 Zinc Closes with Big Losses (2016-11-17)-Shanghai Metals Market

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SHFE 1701 Zinc Closes with Big Losses (2016-11-17)

Price Review & Forecast 07:07:27PM Nov 17, 2016 Source:SMM

SHANGHAI, Nov. 17 (SMM) – SHFE 1701 zinc opened at RMB 20,870/mt, and hovered around RMB 20700/mt. In the afternoon, SHFE 1701 zinc advanced and closed at RMB 20,570/mt, down RMB 770/mt or 3.61%. Trading volumes decreased 175,000 to 691,000 lots, and positions decreased 17,214 to 243,000. US October CPI before seasonally adjustment and housing starts due for release this evening are expected to improve, and will bolster the US dollar to rise to 100. SHFE zinc fell with other commodities. Onshore RMB fell below 6.87 against the US dollar, hitting an 8-year low, and down over 130, giving support to zinc. 

Key Words:  zinc prices 

SHFE 1701 Zinc Closes with Big Losses (2016-11-17)

Price Review & Forecast 07:07:27PM Nov 17, 2016 Source:SMM

SHANGHAI, Nov. 17 (SMM) – SHFE 1701 zinc opened at RMB 20,870/mt, and hovered around RMB 20700/mt. In the afternoon, SHFE 1701 zinc advanced and closed at RMB 20,570/mt, down RMB 770/mt or 3.61%. Trading volumes decreased 175,000 to 691,000 lots, and positions decreased 17,214 to 243,000. US October CPI before seasonally adjustment and housing starts due for release this evening are expected to improve, and will bolster the US dollar to rise to 100. SHFE zinc fell with other commodities. Onshore RMB fell below 6.87 against the US dollar, hitting an 8-year low, and down over 130, giving support to zinc. 

Key Words:  zinc prices