LME Zinc to Hover at Lows (2017-6-7)-Shanghai Metals Market

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LME Zinc to Hover at Lows (2017-6-7)

Price Review & Forecast 09:53:29AM Jun 08, 2017 Source:SMM

SHANGHAI, Jun. 8 (SMM) – LME zinc fell further below the 60-day moving average and found little support. The number of US initial jobless claims last week, import and export data in May and seasonally adjusted GDP in Q1 will be released today. UK’s presidential election result and European Central Bank’s statement about interest rate decision will also be eyed.

LME is expected to move between USD 2,410-2,460/mt today. SHFE 1707 zinc will fluctuate between RMB 20,300-20,710/mt, with spot prices RMB 740-760/mt above SHFE 1707 zinc.

LME Zinc to Hover at Lows (2017-6-7)

Price Review & Forecast 09:53:29AM Jun 08, 2017 Source:SMM

SHANGHAI, Jun. 8 (SMM) – LME zinc fell further below the 60-day moving average and found little support. The number of US initial jobless claims last week, import and export data in May and seasonally adjusted GDP in Q1 will be released today. UK’s presidential election result and European Central Bank’s statement about interest rate decision will also be eyed.

LME is expected to move between USD 2,410-2,460/mt today. SHFE 1707 zinc will fluctuate between RMB 20,300-20,710/mt, with spot prices RMB 740-760/mt above SHFE 1707 zinc.