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Home / Metal News / LME Zinc Poised to Rise Further Next Week

LME Zinc Poised to Rise Further Next Week

Mar 4, 2016 15:19

Source:SMM

LME zinc prices should breach $1,800 per tonne next week, moving in the $1,780-1,880 per tonne range, SMM says.

SHANGHAI, Mar. 4 (SMM) - LME zinc prices should breach $1,800 per tonne next week, moving in the $1,780-1,880 per tonne range, SMM says.

“The European Central Bank is expected to expand quantitative easing policy against recent sluggish economic indicators in Europe. Global stock markets were upbeat recently. Additional stimulus measures expected after the NPC & CPPCC will also increase market confidence.” an SMM zinc analyst explained.

May zinc on the SHFE should trade between 14,000-14,800 yuan per tonne next week, the analyst added.

“Any increase in SHFE zinc will be limited as market expectations of yuan’s further devaluation weakened.”

Spot zinc price in China will trade 180-80 yuan per tonne below April zinc. Zinc smelters will continue to sell proactively on rising zinc price. Trading will improve on stronger downstream demand.

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