SHANGHAI, July 30 (SMM) -- The strengthening US stocks and better-than-expected US initial jobless claims last week helped drive up LME base metals prices, and LME zinc prices finally closed at USD 1,985/mt, with the highest prices reported at USD 2,005/mt, and LME zinc prices are expected to head for USD 2,000/mt in the near term. SHFE 1011 zinc contract prices will continue to consolidate around RMB 16,500/mt today following rising LME zinc prices, and spot market sentiment ahead of the weekend is expected to help support zinc prices.
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