SHANGHAI, Jun. 5 (SMM) – LME zinc prices are expected to trade between $2,120-2,180 yuan per tonne next week, Shanghai Metals Market predicts.
“A strong dollar, negative technical signs and expanding contango will hold zinc prices in check,” SMM zinc group says.
In China’s domestic market, the August delivery contract on the SHFE will trade between 16,200-16,500 yuan per tonne in the coming week, SMM estimates, adding a possible premium in spot zinc market.
Supplier reluctance in sales and growing buying at lows will help spot price trade at premiums of 50 yuan against the August delivery contract, SMM adds.
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