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 to Weaken (2017-5-26)
LME zinc closed lower yesterday but was supported by weekly moving average, having strong upward momentum.
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