SHFE Zinc to Remain Range-Bound (2017-6-5)

Published: Jun 5, 2017 09:42

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Markit’s service PMI for UK in May due for release today is expected to fall short of April’s.

SHANGHAI, Jun. 5 (SMM) – Markit’s service PMI for UK in May due for release today is expected to fall short of April’s. When combined with terrorist attack in the UK, risk aversion may increase, weighing down LME zinc. LME zinc is expected to move between USD 2,510-2,560/mt today. SHFE 1707 zinc will fluctuate between RMB 21,530-21,850/mt, with spot prices RMB 70-50/mt below SHFE 1706 zinc and RMB 580-600/mt above SHFE 1707 zinc. Caixin’s service PMI for China in May will also be eyed.

LME Zinc prices SHFE zinc prices zinc prices

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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