SHFE Zinc to Hover at Highs (2017-8-29)

Published: Aug 29, 2017 10:02 (GMT+8)

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Gold prices rose above USD 1,320/mt yesterday due to tensions in North Korea.

SHANGHAI, Aug. 29 (SMM) – Gold prices rose above USD 1,320/mt yesterday due to tensions in North Korea. The euro hit highest in two and a half years after meeting in Jackson Hole. This, plus impact from tropical storm Harvey, sent the US dollar index down. US Conference Board’s consumer confidence index may fall, due to uncertainty over US Fed’s policy and Trump’s tax reform and infrastructure policy. Risk aversion will grow.

LME zinc should stabilize ay USD 3,070-3,110/mt. SHFE 1710 zinc should move at highs of RMB 25,550-26,000/mt. #0 zinc will trade at premiums of RMB 250-300/mt over SHFE 1709 zinc.

Key Macroeconomic Indicators for Base Metal Prices (2016-8-29)

LME zinc prices SHFE zinc prices zinc prices base metal price forecast

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.

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