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Shanghai Zinc Prices to Fall due to no Fundaments Support, SMM Interviews

iconMay 8, 2015 10:04
Source:SMM
Zinc prices in Shanghai Futures Exchange are expected to fall back further due to the lack of fundamentals support, Shanghai Metals Market’s interview shows.

SHANGHAI, May 8 (SMM) – Zinc prices in Shanghai Futures Exchange are expected to fall back further due to the lack of fundamentals support, Shanghai Metals Market’s interview shows. 

“A downward room is still available for SHFE zinc as demand gives little support, and investors may enter after price drops around to 17,000 yuan,” an analyst from Ruida Futures told SMM in an interview. 

On May 7, SMM prices of 0# zinc were 17,010-17,110 yuan per tonne, down 150 yuan per tonne on average.  

Domestic zinc smelters turned active in sales, and this, coupled with outflow of hedged goods, increased market supply. Downstream producers, on the other said, entered the market, but only purchased on an as-needed basis, SMM survey finds.  

The article is edited by SMM and is provided for information purpose only. SMM assumes no liability and does not warrant the accuracy, reliability or completeness of information contained or quoted in the article, either express or implied. SMM further disclaims any liability for losses in connection with the information contained or quoted in the article.
 
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SHFE zinc prices
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