SHANGHAI, Jul. 1 (SMM) – The outlook for zinc market will remain pessimistic for the foreseeable future, Shanghai Metals Market’s interview finds.
“Poor market fundamentals, resulting from higher output and poor consumption will continue to weigh down zinc prices in addition to a strong dollar,” an analyst from Galaxy Futures told SMM in an interview.
Utilization rate at major domestic zinc smelters remained high in June, according to SMM production survey.
Zinc prices will not rebound until domestic demand recovers, the analyst adds.
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