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SMM Zinc Price Forecast (Jul. 23-27)
Jul 23,2012 16:58CST
price review forecast
Source:SMM
QE3 will not be implemented by the US Federal Reserve for the foreseeable future, disappointing markets.

SHANGHAI, Jul. 23 (SMM) – QE3 will not be implemented by the US Federal Reserve for the foreseeable future, disappointing markets. Chinese Premier Wen Jiabao stated last Thursday that China will develop additional stimulus policies, which gave support to zinc prices. Next week, the US dollar index should continue to fluctuate weakly and LME zinc prices should hit USD 1,900/mt. SHFE three-month zinc contract prices should move between RMB 14,800-15,000/mt, but lack upward momentum during July and August given sluggish downstream demand. Since imported zinc will not be consumed in the short term, spot prices should be dragged down and discounts should expand to RMB 100-150/mt in the coming week.

 

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