SHANGHAI, Aug. 26 (SMM) – Will growing output at Chinese zinc smelters put a downward pressure on zinc prices? Shanghai Metals Market’s interview with analysts at domestic futures companies reviews the following insights.
“Recent correction in zinc market was because of growing output at domestic zinc smelters”, one analyst told SMM in the interview, noting some smelters are running at full operating rate, while those not in full rate are restarting the idled capacities following strong zinc prices.
But, any downward room for zinc price will be limited, he added.
Another analyst in our interview also echoed his views, adding worries over ore supply and environment protection inspections in China will continue to underpin zinc prices.
LME zinc registered a gain of 13.63% since the beginning of the year, the biggest since 2009, and SHFE zinc also gained by 10.04% during the same period.
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