SHFE Zinc to Lack upward Momentum (2017-6-23)

Published: Jun 23, 2017 09:22

Save

LME zinc will get support due to short squeeze, and is expected to move between USD 2,660-2,720/mt today.

SHANGHAI, Jun. 23 (SMM) – LME zinc will get support due to short squeeze, and is expected to move between USD 2,660-2,720/mt today. SHFE 1708 zinc is expected to fluctuate between RMB 21,900-22,330/mt, with spot prices RMB 350-450/mt above SHFE 1707 zinc.

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

17 mins ago

SHFE zinc maintained range-bound trading with upside room blocked [SMM Zinc Morning Comment]

[SHFE Zinc Morning Comment] Overnight, SHFE zinc recorded a bearish candlestick, with the 20-day moving average forming resistance above and the 40-day moving average providing support below. SHFE zinc fluctuated within a range overnight. On the fundamentals side, social inventory increased by more than 35,000 mt as consumption has not yet recovered, limiting upside room, and...

17 mins ago

18 mins ago

US dollar strengthens LME zinc center slightly sinks [SMM Morning Meeting Summary]

[smm morning meeting summary: us dollar strengthens lme zinc center slightly sinks] overnight, lme zinc recorded a four-day losing streak, with the 40-day moving average providing support below. as geopolitical risks in the middle east increased, the strengthening of the us dollar put pressure on non-ferrous metals, causing lme zinc to retreat after a rapid rise and its center to shift downward.

18 mins ago

16 hours ago

Geopolitical Conflicts Intensify SHFE Zinc Rises During Daytime [SMM Zinc Futures Brief]

[Geopolitical Tensions Intensify SHFE Zinc Rises During Daytime]: The Most-Traded SHFE Zinc 2604 Contract Opened at 24,590 Yuan/mt. After Opening, SHFE Zinc Fluctuated and Rose, Reaching a Low of 24,425 Yuan/mt Early in the Session and Peaking at 24,880 Yuan/mt Towards the End, Finally Closing Up at 24,850 Yuan/mt.

16 hours ago