SHANGHAI, Aug. 14 (SMM) - LME zinc prices should remain weak at $1,800-1,870 per tonne next week, SMM zinc analyst says.
"The US dollar is expected to fall to 95.8, but concerns over China’s demand will put pressure on LME zinc price”, SMM zinc analyst explains.
SHFE zinc contracts for October delivery will move between 14,700-15,150 yuan per tonne, SMM adds. Limited longs combined with market expectations of a slower depreciation of yuan will constrain SHFE zinc price gains next week.
Spot premiums in China are expected to fall to 100 yuan per tonne against October delivery SHFE zinc contracts. Supplies will increase due to inflows of imported zinc. Demand remains weak, though.
For news cooperation, please contact us by email: firstname.lastname@example.org or email@example.com.