SMM Zinc Price Forecast (Jul. 2-6)-Shanghai Metals Market

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SMM Zinc Price Forecast (Jul. 2-6)

Price Review & Forecast 04:44:56PM Jul 02, 2012 Source:SMM

SHANGHAI, Jul. 2 (SMM) – EU leaders approved bailout funds totaling EUR 120 billion, boosting market confidence. LME zinc prices should also give smelters incentive to place orders after falling for several days, and should move between USD 1,770-1,820/mt. Domestic zinc prices will be even more sluggish during July due to the seasonal low demand period. SHFE three-month zinc contract prices should move between RMB 14,400-14,700/mt, with spot discounts rising to RMB 50-80/mt.
 

SMM Zinc Price Forecast (Jul. 2-6)

Price Review & Forecast 04:44:56PM Jul 02, 2012 Source:SMM

SHANGHAI, Jul. 2 (SMM) – EU leaders approved bailout funds totaling EUR 120 billion, boosting market confidence. LME zinc prices should also give smelters incentive to place orders after falling for several days, and should move between USD 1,770-1,820/mt. Domestic zinc prices will be even more sluggish during July due to the seasonal low demand period. SHFE three-month zinc contract prices should move between RMB 14,400-14,700/mt, with spot discounts rising to RMB 50-80/mt.