SHANGHAI, Apr. 24 (SMM) – Zinc prices are expected to stay range-bound this week, SMM foresees.
LME zinc may consolidate in the range of $2,520-2,650 per tonne this week, SMM predicts. SHFE May zinc will move between 21,000-22,300 yuan per tonne.
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Spot trading inventories fell to a low recently. However, fundamentals, in a long-term point of view, will weaken, SMM said. In this scenario, zinc price will resist both increases and declines.
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