SHFE Zinc to Set for Gains (2017-3-30)

Published: Mar 30, 2017 09:55

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LME zinc will stay firm and move at USD 2,840-2,890/mt on Thursday and SHFE 1705 zinc will move between RMB 23,300-23,700/mt.

SHANGHAI, Mar. 30 (SMM) –Attention should be on final reading of US’s GDP and PCE price index on Thursday. LME zinc will stay firm and move at USD 2,840-2,890/mt on Thursday. SHFE 1705 zinc closed higher on Wednesday’s night trading and found support at the 10-day moving average. The contract will test RMB 23,700/mt on Thursday and move between RMB 23,300-23,700/mt.

In China’s domestic market, downstream buyers show low purchase interest after zinc price increases. #0 zinc should trade at discounts of RMB 70-40/mt on Thursday.

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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