SHANGHAI, Aug. 7 (SMM) – Zinc prices will fluctuate at highs this week since fundamentals will continue to underpin zinc prices, SMM foresees.
LME zinc may move in the range of $2,780-2,850 per tonne this week, SMM predicts. SHFE September zinc, the most actively traded contract, will move between 23,000-23,800 yuan per tonne.
Some smelters have yet to totally recover from maintenance. Meanwhile, imports are still limited. Zinc inventories are still at low levels. Consumption is steady as a whole. These factors will bolster zinc prices, SMM explained.
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