SHANGHAI, May 3 (SMM) – LME zinc failed to reach the 40-day moving average, but found support from the 5- and 20-day moving averages. Trading will be made cautiously before Fed decision. Eurozone GDP and ISM non-manufacturing PMI in April for the US will be released today. LME zinc will move between USD 2,640-2,680/mt today. SHFE 1706 zinc should fluctuate between RMB 22,000-22,400/mt, with spot prices RMB 280-320/mt above SHFE 1706 zinc.
Zinc to See Cautious Trading (2017-5-3)
ME zinc failed to reach the 40-day moving average, but found support from the 5- and 20-day moving averages.
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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