SHANGHAI, July 27 (SMM) -- Positive US housing data stimulated LME base metals prices to close with gains on July 26th, but LME zinc prices grew at a slower pace compared with other base metals, with prices finally ending at USD 1,950/mt. Whether or not LME zinc prices can break through the USD 2,000/mt mark will depend on other base metals and financial markets. SMM predicts SHFE 1011 zinc contract prices will jump above RMB 16,000/mt today due to bullish LME zinc prices, with prices expected to challenge the previous high of RMB 16,500/mt.
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