SHANGHAI, Jun. 26 (SMM) – Zinc prices are expected to stay at highs this week, SMM foresees.
LME zinc may move in the range of $2,650-2,750 per tonne this week, SMM predicts. SHFE August zinc, the most actively traded contract, will move between 21,500-22,500 yuan per tonne.
Fundamentals will give support to zinc prices, SMM explained. Downstream consumption from downstream industries, including galvanizing and zinc oxide picked up in June. Meanwhile, supplies were still insufficient.
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