SHFE Zinc to Remain Range-Bound (2016-12-1)

Published: Dec 1, 2016 09:42

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The agreement on output cut issue reached at the OPEC meeting will continue to support commodities today.

SHANGHAI, Dec. 1 (SMM) – The agreement on output cut issue reached at the OPEC meeting will continue to support commodities today. China’s and eurozone November manufacturing PMI and ISM November manufacturing PMI in the US slated for release today will be mixed. Glencore will hold a teleconference today which may decide whether to restart production next year.

LME zinc will hover between USD 2,700-2,770/mt today, and SHFE 1702 zinc should fluctuate between RMB 22,500-22,900/mt today, with spot premiums of RMB 30-70/mt against SHFE 1701 zinc.

LME Zinc prices SHFE zinc prices 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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