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

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

Price Review & Forecast 09:42:04AM Jun 05, 2017 Source:SMM

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. 

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

Price Review & Forecast 09:42:04AM Jun 05, 2017 Source:SMM

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.