SMM Zinc Price Forecast May 2-3, 2013-Shanghai Metals Market

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SMM Zinc Price Forecast May 2-3, 2013

Price Review & Forecast 04:47:59PM Apr 28, 2013 Source:SMM

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.
 

Key Words:  zinc price 

SMM Zinc Price Forecast May 2-3, 2013

Price Review & Forecast 04:47:59PM Apr 28, 2013 Source:SMM

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.
 

Key Words:  zinc price