LME Zinc to Fall (2017-10-18)

Published: Oct 18, 2017 09:34

Save

LME zinc tumbled due to a strong US dollar.

SHANGHAI, Oct. 18 (SMM) –LME zinc tumbled due to a strong US dollar. LME zinc will move at USD 3,065-3,110/mt today and test support at the 60-day moving average. US housing starts and building permits, to be released today, may fall, which will have negative impact on zinc consumption. The most active SHFE zinc will move at lows of RMB 24,800-25,250/mt on weak consumption. Eyes will be on 19th CPC National Congress that started today. #0 zinc will trade at premiums of RMB 240-300/mt over SHFE 1711 zinc.

LME zinc prices SHFE zinc prices

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.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

17 mins ago

Huanghua Huixin Weiye Fiberglass Reinforced Plastic Co., Ltd. Invites You to the 2026 SMM Zinc Industry Conference

17 mins ago

55 mins ago

Shanghai Zinc: Futures zinc prices consolidate at highs, market trading shows no improvement [SMM Midday Review]

[Shanghai Zinc: Futures Zinc Prices Consolidate at Highs, Market Transactions See No Improvement] Today, #0 zinc mainstream transaction prices were mainly concentrated in 24,580-24,685 yuan/mt, Shuangyan mainstream transactions were at 24,740-24,835 yuan/mt, and #1 zinc mainstream transactions were at 24,510-24,615 yuan/mt. In early trading, quotes were at a premium of 10-20 yuan/mt against the SMM average price, with no quotes against futures yet...

55 mins ago

57 mins ago

Tianjin Zinc: Futures Consolidate at Highs, Trading Moderate [SMM Midday Comment]

[Tianjin Zinc: Futures Consolidate at Highs, Transactions Average] In the Tianjin market, #0 zinc ingot mainstream transactions were at 24,530-24,690 yuan/mt, Zijin transactions were at 24,610-24,730 yuan/mt, #1 zinc ingot transactions were near 24,520-24,620 yuan/mt; Zijin was quoted at a discount of 0-30 yuan/mt against the 2608 contract, Huxin was quoted at 25,700 yuan/mt, #0 zinc ingot was quoted at a discount of 40-110 yuan/mt against the 2608 contract, and Tianjin was quoted at a discount of 30 yuan/mt against Shanghai.

57 mins ago