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LME Zinc to Face Downward Pressure (2017-9-20)
Sep 20,2017 09:44CST
price review forecast
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.

 

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