SHFE Zinc to Lack upward Momentum (2017-6-26)
SHANGHAI, Jun. 26 (SMM) – US May durable goods orders will be released today. European Central Bank President Mario Dragi will speak today. Gradual recovery in European and US economy supported market sentiment. LME zinc has been rising for several trading days, and is expected to move between USD 2,675-2,725/mt today. SHFE 1708 zinc is expected to fluctuate between RMB 21,800-22,150/mt, with spot prices RMB 260-360/mt above SHFE 1707 zinc. Trading will weaken due to mid-year cash tightness, with downstream buyers purchasing modestly.
LME Zinc prices
SHFE zinc prices
zinc prices
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