LME Zinc to Fall (2017-10-18)

Published: Oct 18, 2017 09:34

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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

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