LME Zinc Poised to Rise Next Week

Published: Apr 15, 2016 15:17

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LME zinc should move between $1,830-1,900 per tonne next week, says SMM.

SHANGHAI, Apr. 15 (SMM) - LME zinc should move between $1,830-1,900 per tonne next week, says SMM.

Rebounding ferrous metals prices will bolster zinc prices. But any upward room for zinc will be limited next week, says one SMM zinc analyst.

June zinc on the SHFE will fluctuate at 14,600-15,100 yuan per tonne, the analyst added. Spot zinc will trade close to June delivery zinc. Downstream buyers purchased only modestly this week, and will replenish stocks next week on stabilizing zinc prices.

Zinc inventories will continue falling on peak demand season for zinc. Speculative traders will purchase on market optimism.

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