SHFE Zinc to Stay Range-Bound (2017-6-16)-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • Zinc
  • Production data
  • Market commentary
  • Macroeconomics
  • Morning comments
  • Futures movement
  • NPI
  • Copper
  • Aluminium
  • Nickel
  • Nickel ore
  • In the United States
  • trade negotiations
  • nickel laterite

SHFE Zinc to Stay Range-Bound (2017-6-16)

Price Review & Forecast 09:29:19AM Jun 16, 2017 Source:SMM

SHANGHAI, Jun. 16 (SMM) – LME zinc closed with gains but lacked upward momentum. US housing starts in May due for release today are promising, weighing on base metals. LME zinc is expected to move between USD 2,490-2,530/mt today. SHFE 1708 zinc is expected to fluctuate between RMB 20,900-21,200/mt, with spot prices RMB 500-550/mt above SHFE 1707 zinc. 

SHFE Zinc to Stay Range-Bound (2017-6-16)

Price Review & Forecast 09:29:19AM Jun 16, 2017 Source:SMM

SHANGHAI, Jun. 16 (SMM) – LME zinc closed with gains but lacked upward momentum. US housing starts in May due for release today are promising, weighing on base metals. LME zinc is expected to move between USD 2,490-2,530/mt today. SHFE 1708 zinc is expected to fluctuate between RMB 20,900-21,200/mt, with spot prices RMB 500-550/mt above SHFE 1707 zinc.