SMM Zinc Price Forecast (Jan. 28-Feb.1)-Shanghai Metals Market

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SMM Zinc Price Forecast (Jan. 28-Feb.1)

Price Review & Forecast 04:53:16PM Jan 28, 2013 Source:SMM

SHANGHAI, Jan. 28 (SMM) – The US debt ceiling issue will remain the focus of markets in the coming week. Near-term market concerns over US default will ease if the US Senate passes the debt ceiling bill next week. The US will also announce 4Q GDP results, which are expected to be positive, so LME zinc prices should continue to test USD 2,100/mt, while SHFE three-month zinc contract prices should move between RMB 15,500-15,700/mt. Spot discounts should grow to RMB 270-320/mt. Spot supply will be sufficient now that smelters have completed deliveries to the SRB, but since downstream demand remains soft and traders close for the holiday, markets will be extremely quiet and zinc ingot prices may move lower.
 

Key Words:  zinc prices  

SMM Zinc Price Forecast (Jan. 28-Feb.1)

Price Review & Forecast 04:53:16PM Jan 28, 2013 Source:SMM

SHANGHAI, Jan. 28 (SMM) – The US debt ceiling issue will remain the focus of markets in the coming week. Near-term market concerns over US default will ease if the US Senate passes the debt ceiling bill next week. The US will also announce 4Q GDP results, which are expected to be positive, so LME zinc prices should continue to test USD 2,100/mt, while SHFE three-month zinc contract prices should move between RMB 15,500-15,700/mt. Spot discounts should grow to RMB 270-320/mt. Spot supply will be sufficient now that smelters have completed deliveries to the SRB, but since downstream demand remains soft and traders close for the holiday, markets will be extremely quiet and zinc ingot prices may move lower.
 

Key Words:  zinc prices