SHANGHAI, Feb 12 (SMM) – Zinc prices may be under pressure after Chinese New Year as import losses narrow, SMM believes.
Operations at most domestic zinc smelters would remain normal during the week-long holiday, leaving inventory to increase continuously. In addition, over 200,000 mt of zinc imports in November and December last year would be entering the market.
As the SHFE/LME price ratio corrected upwards, import losses have become smaller and arbitrage opportunity may open after Chinese New Year. This would then give pressure to spot zinc prices.
For editorial queries, please contact Daisy Tseng at email@example.com
For more information on how to access our research reports, please email firstname.lastname@example.org