SHANGHAI, Oct. 30 (SMM) – Zinc price is expected to continuing rising for the foreseeable future due to improved market fundamentals, Shanghai Metals Market’s interview showed.
Growing premiums, demand improvement and ore supply concerns all give market confidence over price outlook, an analyst from Everbright Futures told SMM in a recent interview.
“Spot premiums are hovering at highs since October, reaching as high as 300 yuan/tonne, and may continue growing if the SHFE/LME zinc price ratio remains unfavorable for imports”, the analyst said.
Downstream demand in the automobile, shipbuilding, home appliances also registers a steady growth, he added.
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