LME Zinc to Rise after Falling Initially (2017-10-11)

SHANGHAI, Oct. 11 (SMM) – On Wednesday, LME zinc will fall at first, and then rise as a falling dollar will support zinc price, which may challenge USD 3,300/mt, with price range between USD 3,260-3,300/mt. The OPEC Monthly Oil Market Report will be released today.

On the SHFE zinc market, good macro-economic environment, growing investment appetite, and positive fundamentals will support the market, and SHFE zinc is estimated to fluctuate mainly around the RMB 26,100/mt, with price range between RMB 26,000-26,480/mt.

The Seventh Plenary Session of the 18th CPC Central Committee will begin on Wednesday and last until October 14, the CPC's most important conference ahead of the 19th National Congress a week later, which should be closely watched. In China’s domestic zinc market, spot prices of #0 zinc are estimated at premiums of RMB 420-540/mt over SHFE 1711 zinc.