SHANGHAI, May 23 (SMM) – LME zinc will breach the 40- and 10-week moving average and maintain strong momentum. Eurozone May manufacturing PMI, US April manufacturing PMI and new home sales due for release today are expected to be mixed. LME zinc will move between USD 2,630-2,660/mt today. SHFE 1707 zinc will fluctuate between RMB 22,100-26,400/mt, with spot prices RMB 370-450/mt above SHFE 1706 zinc.
SHFE Zinc to Maintain Upward Momentum (2017-5-23)
LME zinc will breach the 40- and 10-week moving average and maintain strong momentum.
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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