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LME Zinc to Move in Tight Range (2017-7-6)
Jul 6, 2017 09:29Source:SMM
ADP employment and trade data in May will be released today.
SHANGHAI, Jul. 6 (SMM) – ADP employment and trade data in May will be released today. The US dollar appeared to have edged up recently, weighing down base metals. Depletion of LME zinc inventories will be eyed. Zinc prices will remain high in the near term. LME zinc is expected to move between USD 2,750-2,800/mt today. SHFE 1708 zinc is expected to fluctuate between RMB 22,530-22,930/mt, with spot prices RMB 20/mt below or RMB 150/mt above SHFE 1707 zinc. Smelters sell actively at highs, while downstream buying interest was weak.
LME Zinc prices
SHFE zinc prices
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