Where is Zinc Contango Going? SMM Analysis-Shanghai Metals Market

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Where is Zinc Contango Going? SMM Analysis

SMM Insight 12:01:54PM Jun 23, 2017 Source:SMM

SHANGHAI, Jun. 23 (SMM) - LME zinc has outshined other nonferrous metals recently due to well-behaved fundamentals. Falling visible and invisible zinc inventories have given a boost to LME zinc prices.

LME zinc inventories decreased 124,000 tonnes from the beginning of 2017 as of June 22, SMM understands.

WBMS: World Zinc Market in Severe Deficit in January-April despite More Output

In this scenario, zinc contango on the LME will narrow or convert to backwardation in the near term, SMM predicts. LME zinc contango has shrank from $25 in early April to $10 per tonne.

LME Zinc Outshines Other Nonferrous Metals - Here’s Why, SMM Reports

As to China market, SHFE zinc prices should stay firm in the near term, helped by supply tightness and low inventories. 

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn. 

Where is Zinc Contango Going? SMM Analysis

SMM Insight 12:01:54PM Jun 23, 2017 Source:SMM

SHANGHAI, Jun. 23 (SMM) - LME zinc has outshined other nonferrous metals recently due to well-behaved fundamentals. Falling visible and invisible zinc inventories have given a boost to LME zinc prices.

LME zinc inventories decreased 124,000 tonnes from the beginning of 2017 as of June 22, SMM understands.

WBMS: World Zinc Market in Severe Deficit in January-April despite More Output

In this scenario, zinc contango on the LME will narrow or convert to backwardation in the near term, SMM predicts. LME zinc contango has shrank from $25 in early April to $10 per tonne.

LME Zinc Outshines Other Nonferrous Metals - Here’s Why, SMM Reports

As to China market, SHFE zinc prices should stay firm in the near term, helped by supply tightness and low inventories. 

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.