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.
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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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