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Home / Metal News / LME Zinc to Face Downward Pressure (2017-9-20)

LME Zinc to Face Downward Pressure (2017-9-20)

Sep 20, 2017 09:44

Source:SMM

LME zinc contango turned into a backwardation of USD 29.5/mt.

SHANGHAI, Sept. 20 (SMM) – LME zinc contango turned into a backwardation of USD 29.5/mt. This may push LME zinc stocks up further, thus pressuring LME zinc prices. LME zinc will range USD 3,080-3,130/mt today, while the most active SHFE zinc will move at RMB 25,300-25,750/mt, with strong support.

#0 zinc will trade at premiums of RMB 300-460/mt over SHFE 1710 zinc.

SHFE zinc prices

zinc prices

base metal price forecast

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After SHFE zinc prices rose, traders mostly took a wait-and-see attitude in the spot market, SMM reported.

Aug 30, 2017 18:18

Industry

Rising SHFE Zinc Distress Trading in Shanghai, SMM Reports

LME Tin to Hover at Highs (2017-7-3)

LME tin will hover around USD 20,000/mt today.

Jul 3, 2017 09:53

SMM Comments

SHFE Zinc Prices to Remain Range-Bound (2017-3-14)

Base metals mostly stabilized overnight. LME zinc will rally to USD 2,720-2,780/mt today, and SHFE 1705 zinc should fluctuate between RMB 22,300-22,750/mt today, with spot prices RMB 80-40/mt below SH

Mar 14, 2017 09:28

SMM Comments

SHFE Zinc Prices to Remain Range-Bound (2017-3-14)

SHFE Zinc Prices to Stay Range-Bound (2017-3-10)

LME zinc will fall to USD 2,670-2,720/mt today, and SHFE 1705 zinc should fluctuate between RMB 21,650-21,950/mt today。

Mar 10, 2017 09:33

SMM Comments

SHFE Zinc Prices to Stay Range-Bound (2017-3-10)

SHFE 1705 Zinc Closes with Small Drop (2017-3-9)

SHFE 1705 zinc opened at RMB 22,045/mt today, and dipped to RMB 21,565/mt, and then stabilized around RMB 21,700/mt. In the afternoon, SHFE 1705 zinc edged down to RMB 21,590/mt and closed at RMB 21,6

Mar 9, 2017 17:38

SMM Comments

SHFE 1705 Zinc Closes with Small Drop (2017-3-9)

SHFE 1702 Zinc Closes with Gains (2016-12-23)

SHFE 1702 zinc fell from RMB 21,390/mt to RMB 21,220/mt after opening and plunged to RMB 20,950/mt.

Dec 23, 2016 19:53

SMM Comments

SHFE 1702 Zinc Closes with Gains (2016-12-23)

SHFE Zinc to Rally Slightly (2016-12-21)

US existing home sales in November are expected to fall short of October’s.

Dec 21, 2016 09:22

SMM Comments

SHFE Zinc to Rally Slightly (2016-12-21)

SHFE Zinc to Fluctuate at Lows (2016-12-20)

Bank of Japan’s interest rate decision will be a focus of markets today.

Dec 20, 2016 09:19

SMM Comments

SHFE Zinc to Fluctuate at Lows (2016-12-20)

SHFE 1702 Zinc Closes with Gains (2016-12-15)

SHFE 1702 zinc climbed to RMB 23,135/mt after opening due to yuan’s devaluation and then dropped to RMB 22,930/mt.

Dec 15, 2016 18:22

SMM Comments

Zinc to See Range-Bound Trading Next Week, SMM Predicts

LME zinc is expected to see range-bound trading and move between $2,680-2,780 per tonne next week, SMM predicts.

Dec 2, 2016 20:34

SMM Insight Industry

Zinc to See Range-Bound Trading Next Week, SMM Predicts

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LME Zinc to Face Downward Pressure (2017-9-20)

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