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Home / Metal News / LME and SHFE Zinc to Consolidate at Current Level, SMM Says

LME and SHFE Zinc to Consolidate at Current Level, SMM Says

Jun 24, 2016 15:40

Source:SMM

LME zinc is expected to hover around $2,000 per tonne next week, SMM predicts.

SHANGHAI, Jun. 24 (SMM) - LME zinc is expected to hover around $2,000 per tonne next week, SMM predicts. August zinc on the SHFE will move between 15,400-15,800 yuan per tonne.

“Continuously sliding TCs of domestic and imported zinc concentrate mean supply tightness, and this will lend support to zinc.” one SMM zinc analyst said.

Spot zinc will trade 50-0 yuan per tonne below August zinc. Trading will be limited due to zinc smelters holding back goods and soft consumption.

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