Zinc Prices Fell As Expectations Of Weaker Demand From Chinese Steel Mills

Zinc trading range for the day is 174.4-185.4.

Zinc prices fell as expectations of weaker demand from Chinese steel mills overpowered signs that the market is short of metal.

An expected surge in refined zinc output after a clutch of new mine openings has been derailed by bottlenecks at smelters across Asia.

China's forced environmental cutbacks on zinc slag, and falling refined prices in the second quarter, prompted many smelters to cut production.



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Zinc Gained On Short Covering After Prices Dropped After Turbul

Zinc trading range for the day is 183.7-189.7.

Zinc gained on short covering after prices dropped after turbulent trade with U.S. stocks and global oil market tumbling amid concerns over global economic growth.

Pressure also seen on weaker Chinese automobile usage in October and a faster-thanexpected rise in mined zinc supply.

The premium of LME cash zinc over the three-month contract soared to $US97 a tonne, the highest since at least June 2009.

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Zinc Prices Dropped Tracking LME Prices As Risk Aversion Grew

Zinc trading range for the day is 185.8-195.6.

Zinc prices dropped tracking LME prices as risk aversion grew as the US stock market slumped.

China’s domestic supplies stayed relatively tight, market optimism cooled as downstream consumption went sluggish at the year-end.

Social inventories of refined zinc across Shanghai, Guangdong and Tianjin came in at 123,000 mt.

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Zinc Dropped On Concerns Of A Slowdown In China

Zinc trading range for the day is 194.3-200.5.

Zinc dropped on concerns of a slowdown in China, which pledged to support illiquid private companies after third-quarter GDP growth slowed to 6.5 percent.

On-warrant zinc stocks in LME-registered warehouses, have fallen below 100,000 tonnes from almost 240,000 tonnes in August and are close to 10-year lows.

The premium for cash zinc over the three-month LME contract, at $47, remains close to Monday’s $63 one-year high, signalling tight nearby supply.

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Silver Prices Rallied Tracking Firmness In Crude Oil

Silver trading range for the day is 37111-39367.

Silver prices rallied tracking firmness in crude oil and base metals prices despite the U.S. Federal Reserve reaffirmed its plans to continue to raise interest rates.

The outlook for the U.S. economy appears bright but there are three key risks, one of the most influential Federal Reserve policymakers said.

U.S. consumer spending increased steadily in August, supporting expectations of solid economic growth in the third quarter.

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Crude Oil Gained As Investors Focused On The Prospect Of Tighter Markets

Crude oil trading range for the day is 5174-5316.

Crude oil gained as investors focused on the prospect of tighter markets due to U.S. sanctions against major crude exporter Iran, which are set to be implemented in November.

At its 2018 peak, Iran exported around 3 million barrels per day (bpd) of crude oil, equivalent to 3 percent of global consumption.

Shipping data shows Iran September exports fell to around 2 million bpd as buyers around the world bow to U.S. pressure and cut imports.

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Zinc Prices Gained As Investors Shrugged Off An Escalation Of The U.S.-China Trade

Zinc trading range for the day is 167.8-174.2.

Zinc prices gained as investors shrugged off an escalation of the U.S.-China trade row.

The confidence of Americans in the US economy and their well-being rose towards the end of summer and stood near a 14-year high.

China’s total retail sales of consumer goods increased by 9% from a year earlier, beating a forecast of 8.8%, the National Bureau of Statistics said.

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