SHFE Zinc Price down 0.13% (2017-8-24)

The focus this week includes: The Fed’s FOMC meeting, coal price trends, final value of October Manufacturing PMI in Eurozone, final value of US October Markit Manufacturing PMI, October ISM Manufacturing PMI, October ADP Employment, October unemployment rate; China's October Caixin Manufacturing PMI and October Caixin Service PMI. In terms of events, FOMC will announce the interest rate resolutions this Thursday; the Fed Chairman Powell will hold a press conference; the Bank of England will announce interest rate resolutions, meeting minutes, and monetary policy reports; and European Central Bank President Lagarde and Executive Committee Member Schnabel will deliver speeches.

The price spread on zinc expanded 30 yuan per tonne between Guangdong and Shanghai today, SMM reported.

Spot trading in Shanghai spot zinc market was dampened as SHFE zinc prices hovered at highs September 4, SMM reports.

Many zinc traders contributed the surge in zinc market mainly to two factors, 21st Century Business Herald reported. 

Downstream buyers and traders preferred imported goods as imported zinc was sufficient in Shanghai which held price advantage, SMM reports.

LME zinc reached a 10-year high on Wednesday since recent big gains in steel prices boosted raw material markets.

#0 zinc traded mainly in 25,050-25,710 yuan per tonne range in Tianjin August 16, 200 yuan per tonne above Shanghai price and 350-400 yuan per tonne above September zinc on the SHFE, SMM data showed.

SHFE 1710 zinc opened at RMB 24,420/mt today and then hovered around RMB 24,420/mt.

Spot discounts for regular #0 zinc expand 20 yuan per tonne in Shanghai market over September zinc on the Shanghai Futures Exchange (SHFE) on August 4.

Spot discounts for regular #0 zinc narrowed additional 10 yuan per tonne in Shanghai market over August zinc on the Shanghai Futures Exchange (SHFE) on July 28, with spot prices 50 yuan per tonne belo