SHANGHAI, May. 22(SMM) – Zinc prices are expected to hover at high levels this week, SMM foresees.
LME zinc may move in the range of $ 2,580-2,680 per tonne this week, SMM predicts. SHFE July zinc will move between 21,500-22,550 yuan per tonne.
Restarts at some downstream producers in North China, continuously falling inventories in China’s major three markets and exit of some shorts will leave zinc at high levels, SMM zinc analyst explained.
Base metals will consolidate at current levels, SMM added.
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