Will Zinc Frenzy Ease after SHFE Price-Control? SMM Reports

Published: Aug 22, 2017 17:30

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Fundamentals in zinc market remain unchanged at present. When combined with strong bullishness, zinc prices will remain high in the near term, SMM said.

SHANGHAI, Aug. 22 (SMM) – Fundamentals in zinc market remain unchanged at present. When combined with strong bullishness, zinc prices will remain high in the near term, SMM said.

China to Delete Some Metals from Scrap Import Embargo List

But the SHFE released restrictions on zinc contract positions. At the meantime, inflows of imported zinc are expected after the import profit window reopens. This will impact domestic spot market.

SHFE Releases Restrictions on Zinc Contract Transaction

In this scenario, investors should be wary of technical fallbacks after longs leave the market after profit-taking, SMM warns.

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zinc prices zinc zinc imports imported zinc

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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