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Home / Metal News / LME Zinc to Weaken (2017-5-26)

LME Zinc to Weaken (2017-5-26)

May 26, 2017 09:51

Source:SMM

LME zinc closed lower yesterday but was supported by weekly moving average, having strong upward momentum.

SHANGHAI, May 26 (SMM) – LME zinc closed lower yesterday but was supported by weekly moving average, having strong upward momentum. US Q1 GDP and PCE due for release this evening are promising, which will boost the US dollar index and weigh down LME zinc. LME zinc will move between USD 2,610-2,660/mt today. SHFE 1707 zinc will fluctuate between RMB 22,000-22,400/mt, with spot prices RMB 80-150/mt above SHFE 1706 zinc.

LME Zinc prices

SHFE zinc prices

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SHFE 1709 zinc opened at RMB 22,685/mt today and then hovered around RMB 22,700/mt.

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SMM Comments

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