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

Published: Sep 20, 2017 09:44

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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

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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