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SMM Zinc Price Forecast (Mar.4-Mar.8)
Mar 4,2013 18:42CST
price review forecast
Source:SMM
Next week, Italy’s recent election will still be the focus of markets.

SHANGHAI, Mar. 4 (SMM) – Next week, Italy’s recent election will still be the focus of markets. China’s leadership will officially change at the first session of the 12th National People's Congress, which will begin on March 5th, and at which economic targets, macroeconomic policies, as well as the 2013 fiscal budget, will be decided. China’s February CPI figure is also due to be released on March 9th. The US dollar index should remain strong and likely break through 82. LME zinc prices should test USD 2,050/mt, and if prices fail at that level, will likely continue falling to USD 2,020/mt. SHFE 1305 zinc contract prices are expected to remain more resistant to declines and should find support at RMB 15,300/mt. Should positive news be released and investor confidence improve, prices are expected to rebound in the latter half of the coming week. Downstream buying interest should improve in the traditional high demand month for zinc, so spot discounts against SHFE 1305 zinc contract prices should narrow to RMB 250-300/mt.
 

SHFE 1305 zinc contract prices

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