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SMM Zinc Price Forecast (Jun. 25-29)
Jun 25,2012 17:19CST
smm insight
Source:SMM
The US dollar index consolidated at 81 following the Fed’s decision to only to extend the current “Operation Twist” until the end of the year, while maintaining low interest rates.

SHANGHAI, Jun. 25 (SMM) – The US dollar index consolidated at 81 following the Fed’s decision to only to extend the current  “Operation Twist” until the end of the year, while maintaining low interest rates. A surge in LME zinc stocks to 990,000 mt is a sign of recent weak zinc demand, so LME zinc prices are expected to hover between USD 1,860-1,880/mt in the coming week and unlikely to break through USD 1,900/mt in the near term due to strong resistance. The most active SHFE zinc contract price is even weaker now, but with limited downside room to fall so the trading band is expected to be RMB 14,500-15,800/mt. Smelter selling interest should increase due to liquidity needs at the end of the month and quarter. As a result, spot zinc prices are expected to be soft, with discounts of RMB 80-130/mt.
 

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