SHANGHAI, Sept. 2 (SMM) - LME zinc prices are expected to fall slightly to $1,760-1,820 per tonne next week, SMM predicts.
“ADP’s employment and non-farm employment for the US in August will be released next week, which are promising. This should bolster the US dollar and in turn weigh on base metals”, said SMM zinc analyst.
SHFE zinc contracts for November delivery will move between 14,400-14,800 yuan per tonne following the three days holiday in China.
Spot zinc in China will trade 50-100 yuan per tonne above November delivery SHFE zinc contracts. Demand should improve in the peak season. But operating rates at zinc smelters are also expected to rise in September. This, coupled with continuous inflows of imported zinc, will leave supply healthy.
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