SHFE Zinc to Lack upward Momentum (2017-6-26)-Shanghai Metals Market

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SHFE Zinc to Lack upward Momentum (2017-6-26)

Price Review & Forecast 09:09:37AM Jun 26, 2017 Source:SMM

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.

SHFE Zinc to Lack upward Momentum (2017-6-26)

Price Review & Forecast 09:09:37AM Jun 26, 2017 Source:SMM

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.