Home / Metal News / Zinc / [Zn Price] LME Zinc Price to Fall below $2,000 Next Week
[Zn Price] LME Zinc Price to Fall below $2,000 Next Week
Jul 24,2015 10:15CST
smm insight
Source:SMM
LME zinc prices should fall below $ 2,000 level next week, moving between $ 1,950-2,010 per tonne, SMM zinc analyst foresees.

SHANGHAI, Jul. 24 (SMM) - LME zinc prices should fall below $ 2,000 level next week, moving between $ 1,950-2,010 per tonne, SMM zinc analyst foresees.

"A strong US dollar will weigh down base metals”, SMM zinc analyst says. Improvement in US property market in the first half of this year bodes well for the country’s major economic indicators slated for release next week. This will grow market expectations of a nearing interest rate hike by the Fed, boosting the US dollar. Besides, a weak euro will also bolster the US dollar.

Meanwhile, market pessimism has also predominated in the market recently.

SHFE zinc contracts for September delivery will trade between 14,800-15,300 yuan per tonne.

Spot zinc in China will trade 20-80 yuan above September delivery SHFE zinc contracts. Supply will be healthy. Hedge traders will release some goods while there will be also inflows of imported zinc. However, downstream demand will remain soft on the off-season, and traders expecting spot premiums to fall will be unwilling to purchase.

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

 

Zn Price
LME zinc prices
SHFE zinc prices
SMM price forecast

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