SMM Zinc Price Forecast (Jun. 11-15)-Shanghai Metals Market

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SMM Zinc Price Forecast (Jun. 11-15)

SMM Insight 06:27:06PM Jun 11, 2012 Source:SMM

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.

Key Words:  LME zinc prices  

SMM Zinc Price Forecast (Jun. 11-15)

SMM Insight 06:27:06PM Jun 11, 2012 Source:SMM

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.

Key Words:  LME zinc prices