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LME Zinc to Hover at Lows Next Week
Mar 25, 2016 15:36Source:SMM
LME zinc will fluctuate between $1,750-1,830 per tonne next week, constrained by the strong US dollar index, SMM says.
SHANGHAI, Mar. 25 (SMM) – LME zinc will fluctuate between $1,750-1,830 per tonne next week, constrained by the strong US dollar index, SMM says.
But LME zinc inventories continued falling, and China’s zinc stocks have also fallen for three weeks in a row. This should lend some support to zinc.
May zinc on the SHFE will weaken to 13,900-14,400 yuan per tonne. Spot zinc will trade 80-20 yuan per tonne below May zinc.
A few zinc smelters will refrain from selling on low zinc prices. Downstream buying interest will decline at the month’s end.
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LME zinc prices
SHFE zinc prices
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