Home / Metal News / Nickel / [Zn Price] LME Zinc to Fall toward $ 2,000 Next Week
[Zn Price] LME Zinc to Fall toward $ 2,000 Next Week
Jun 19,2015 16:13CST
smm insight
Source:SMM
LME zinc prices are likely to dive to $ 2,000 per tonne in this coming week, Shanghai Metals Market predicts.

SHANGHAI, Jun. 19 (SMM) – LME zinc prices are likely to dive to $ 2,000 per tonne in this coming week, Shanghai Metals Market predicts. 

“The downward risk remains in the zinc market, and a technical rally from continuous losses will be possible during its downward track,” SMM zinc group says, expecting LME zinc to trade between $2,035-2,090 per tonne.  

In China’s domestic market, SHFE zinc will likely drop to 15,500 yuan to range 15,500-15,900 yuan per tonne amid the bearish sentiment, SMM says.  

“Long bets may enter after a string of price losses, so it should not be too pessimistic towards SHFE zinc, when coupled with growing expectations towards fresh stimulus measures in China, such as reserve rate cut,” SMM explains. 

In China’s spot zinc market, mid-year cash tightness will constrain spot trading, and this will leave spot prices 0-50 yuan per tonne above SHFE 1508 zinc contracts, SMM adds.

Key indicators for prices in this coming week include the US housing, sales, and GDP data, China’s HSBC PMI, and Europe’s PMI and M3, as well as Greek debt issues.  

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

lme zinc prices
shfe zinc prices
zinc prices

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news