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Zinc to See Technical Fallback, SMM Foresees
Aug 15,2017 10:10CST
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Source:SMM
Zinc prices may fall technically this week but will still stay at highs since fundamentals will continue to underpin zinc prices, SMM foresees.

SHANGHAI, Aug. 15 (SMM) – Zinc prices may fall technically this week but will still stay at highs since fundamentals will continue to underpin zinc prices, SMM foresees.

Zinc Inventories in Three Markets Stay Low, SMM Reports

LME zinc may move in the range of $2,860-2,960 per tonne this week, SMM predicts. SHFE September zinc, the most actively traded contract, will move between 23,650-24,500 yuan per tonne.

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SMM survey finds the average operating rate at domestic zinc smelters fell 1.25% in July. 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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