SHFE Zinc Prices to Meet Pressure (2017-4-7)

Published: Apr 7, 2017 09:38

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US March non-farm employment data due for release today are not promising, and this may constrain the US dollar and support base metals.

SHANGHAI, Apr. 7 (SMM) – US March non-farm employment data due for release today are not promising, and this may constrain the US dollar and support base metals.

LME zinc will consolidate between USD 2,700-2,760/mt today. SMM statistics show total zinc inventories in Shanghai, Guangdong and Tianjin grew 300 mt as of Thursday, slightly depressing market sentiment. SHFE 1705 zinc should fluctuate between RMB 22,100-22,650/mt, with spot prices RMB 20-0/mt below SHFE 1705 zinc. Smelters may hold back goods as zinc prices fell. Downstream buyers may purchase actively at lows.

LME Zinc prices SHFE zinc prices zinc prices

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