SHFE Zinc Expected to Hit 17,000 Yuan before Year-End, SMM says

Nov 13, 2014 11:22

Source:SMM

SHFE three-month zinc price is expected to hit 17,000 yuan per tonne, with support at 16,300 yuan per tonne before the end of 2014, Shanghai Metals Market foresees.

SHANGHAI, Nov. 13 (SMM) – SHFE three-month zinc price is expected to hit 17,000 yuan per tonne, with support at 16,300 yuan per tonne before the end of 2014, Shanghai Metals Market foresees.

“Investors are now bullish over zinc prices, and prices in SHFE zinc market will remain strong for the rest of the year”, said Liu, SMM’s zinc analyst.

Spot zinc, however, will not look as rosy as futures prices, she said, expecting spot premiums to drop gradually from current highs.

“Downstream demand will be waning as it is getting colder, and spot tightness will be relieved to some extent along with inflows of imported materials and high utilization rate for year’s production target”, she added.

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China zinc price forecast

SHFE zinc prices

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SHFE Zinc Expected to Hit 17,000 Yuan before Year-End, SMM says

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