LME Zinc to Move Lower (2017-3-22)

Published: Mar 22, 2017 10:01

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LME zinc will trade at USD 2,800-2,850/mt on Wednesday. SHFE 1705 zinc will move at RMB 23,100-23,500/mt.

SHANGHAI, Mar. 22 (SMM) – Attention should be on US’s February existing home sales on Wednesday, which is expected to drop. LME zinc dropped on Tuesday’s night trading and will keep falling on Wednesday with negative technical indicators. The contract will trade at USD 2,800-2,850/mt on Wednesday. SHFE 1705 zinc declined for 2 days in a row and fell below the 5-day moving average on Tuesday. The contract will remain falling momentum and move at RMB 23,100-23,500/mt on Wednesday.

In China’s domestic market, #0 zinc should trade at discounts of RMB 60-40/mt on Wednesday.

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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