SMM Zinc Price Forecast (Apr.15- Apr.19)-Shanghai Metals Market

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SMM Zinc Price Forecast (Apr.15- Apr.19)

Price Review & Forecast 06:33:09PM Apr 15, 2013 Source:SMM

SHANGHAI, Apr. 15 (SMM) – The strengthening US dollar index has given support to zinc prices recently. Given strong growth in exports and investments, China's 1Q GDP growth due to be released in the coming week is expected to come in at 8%. However, due to sluggish consumption, downstream zinc orders have been poor, so prices will not likely rise in the coming week. Major global economic data to be released this week should expand the zinc price range, with LME zinc prices between USD 1,890-1,950/mt and SHFE 1307 zinc contract prices testing RMB 15,000/mt, with spot discounts against SHFE 1306 zinc contract prices between RMB 60-100/mt.
 

Key Words:  zinc prices  

SMM Zinc Price Forecast (Apr.15- Apr.19)

Price Review & Forecast 06:33:09PM Apr 15, 2013 Source:SMM

SHANGHAI, Apr. 15 (SMM) – The strengthening US dollar index has given support to zinc prices recently. Given strong growth in exports and investments, China's 1Q GDP growth due to be released in the coming week is expected to come in at 8%. However, due to sluggish consumption, downstream zinc orders have been poor, so prices will not likely rise in the coming week. Major global economic data to be released this week should expand the zinc price range, with LME zinc prices between USD 1,890-1,950/mt and SHFE 1307 zinc contract prices testing RMB 15,000/mt, with spot discounts against SHFE 1306 zinc contract prices between RMB 60-100/mt.
 

Key Words:  zinc prices