SMM Zinc Price Forecast May 2-3, 2013

SHANGHAI, Apr. 28 (SMM) – A number of economic reports from Europe and the US will be released in the coming week, along with growing expectations that the ECB will loosen monetary policies. The market will lack Chinese investors due to the three-day Labor Day holiday in China. LME zinc prices will lack upward momentum and remain largely between USD 1,890-1,950/mt. SHFE 1308 zinc contract will become the most actively traded contract, but with prices meeting resistance at RMB 14,955/mt, leaving prices between RMB 14,700-14,950/mt and with spot discounts of  RMB 120-140/mt.