LME Zinc to See Range-Bound Trading (2017-2-14)

Published: Feb 14, 2017 10:22

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LME zinc will trade at USD 2,880-2,940/mt on Tuesday and SHFE 1704 zinc is expected to move at RMB 23,500-23,950/mt.

SHANGHAI, Feb. 14 (SMM) – Eyes should be on January CPIs and PPIs from China, US and European countries and fresh reading of eurozone’s GDP in Q4 2016 on Tuesday. The data is expected to be positive, supporting commodities. LME zinc staged technical corrections on Monday’s night trading and will trade at USD 2,880-2,940/mt on Tuesday. SHFE 1704 zinc will correct technically on Tuesday and is expected to move at RMB 23,500-23,950/mt.

In China’s domestic market, #0 spot zinc should trade at discounts of RMB 70-40/mt on Tuesday, against SHFE three month zinc price.

SHFE zinc LME 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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