SMM Weekly Forecast on China Zinc Metal Market

May 21, 2012 18:00

Source:SMM

Zinc prices fell sharply last week due to political instability in Greece, which will continue to dominate market confidence in the coming week.

SHANGHAI, May 21 (SMM) -- Zinc prices fell sharply last week due to political instability in Greece, which will continue to dominate market confidence in the coming week. The US dollar index should move between 81-82. LME zinc prices should move between USD 1,880-1,920/mt, while SHFE three-month zinc contract prices should move between RMB 14,700-15,000/mt, with spot prices closer to SHFE zinc prices.

Zinc prices

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LME zinc prices are expected to stand at $2,900-2,990/mt this week; the most-traded SHFE contracts prices are expected to stand at 21,800-22,800 yuan/mt this week, spot premiums of Shanghai zinc stood at 180-230 yuan/mt over the September contract.

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Supply and demand to weaken in H2, zinc prices to be suppressed by macro fronts and released government stockpiles

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SMM Weekly Forecast on China Zinc Metal Market

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