SHFE Zinc to Consolidate at Highs (2016-8-10)

SHANGHAI, Aug. 10 (SMM) – China’s July credit loans are expected to fall short of market expectations. Liquidity appeared to have tightened in light of overnight interbank offered rate. LME zinc is expected to move between 2,250-2,290/mt today. SHFE 1610 zinc should fluctuate between RMB 17,300-17,500/mt today, and spot #0 zinc prices will trade RMB 80-40/mt below SHFE 1610 zinc.