SHANGHAI, Jul. 24 (SMM) – Zinc prices are expected to fluctuate at high levels this week, SMM foresees.
LME zinc may move in the range of $2,730-2,800 per tonne this week, SMM predicts. SHFE September zinc, the most actively traded contract, will move between 22,500-23,200 yuan per tonne.
Zinc consumption is not weak despite the low-demand months of July and August. Zinc inventories in Shanghai, Tianjin and Guangdong were still low. This will continue to bolster zinc prices, SMM said.
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