SHANGHAI, Sept. 11 (SMM) - LME zinc prices will rise slightly to $1,800-1,860 per tonne next week, SMM predicts, helped by weakening US dollar and additional stimulus measures expected from China.
“Major economic indicators from the US this week were below market expectations, which will constrain the US dollar next week,” said an SMM zinc analyst. “China may also push additional stimulus measures against a downshift, and the peak season will also bolster zinc prices.”
SHFE zinc contracts for November delivery will climb to 14,700-15,100 yuan per tonne, SMM adds. Spot discounts will widen to 100 yuan per tonne on ample supply and soft demand.
Most smelters sold normally in September, and the market is working through inventories of imported zinc.
For news cooperation, please contact us by email: email@example.com or firstname.lastname@example.org.