SMM Zinc Price Forecast (Jun. 11-15)

SHANGHAI, Jun. 11 (SMM) -- Last Thursday, US Federal Reserve Chairman Bernanke did not mention any possibility of implementing QE3 policies, while negative news continued to come out of the euro zone. In this context, the US dollar index should remain strong near 82 in the coming week. LME zinc prices should move between USD 1,860-1,890/mt, and SHFE three-month zinc contract prices should move between RMB 14,600-14,900/mt, with support at RMB 14,600/mt. As downstream demand has not yet rebounded,  smelters were still holding goods, so discounts should remain between RMB 50-100/mt.