SHANGHAI, May 29 (SMM) - Shanghai spot discounts over SHFE 1508 zinc contract prices will expand to 150-100 yuan per tonne next week, Shanghai Metals Market predicts.
SHFE 1508 zinc contract prices should remain steady at 16,500-17,000 yuan per tonne next week, SMM foresees.
Spot trading will dampen due to cash tightness at downstream producers and softening demand for zinc alloy. Spot supply in Shanghai will remain sufficient, though.
"LME zinc prices are expected to rise to $2,190-2,250 per tonne”, SMM zinc analyst says.
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