SMM Forecast of Zinc Prices this Week

Published: Apr 4, 2023 09:40

Source: SMM

Save

SMM presumes that the zinc concentrate mines are unlikely to cut production in the short term.

SHANGHAI, Apr 4 (SMM) - SMM presumes that the zinc concentrate mines are unlikely to cut production in the short term. Smelters in other regions may run at full capacity, except for those which carry out routine maintenance and receive influence from power cuts in Yunnan. The apparent demand last week and the weekly operating rate surveyed by SMM suggested that the demand showed signs of peaking. And the short-term demand will remain high as many projects will start in 2023. Therefore, the contradiction between zinc supply and demand was not prominent. The price trend will be more dependent on the performance of demand. Zinc prices will move between 22,000-23,000 yuan/mt this week.

Spot Market

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

18 mins ago

Zinc Smelter Equipment Maintenance

According to SMM, a small zinc smelter in Central China plans to halt production for one month in June due to equipment maintenance, with no zinc ingot output during the period.

18 mins ago

1 hour ago

SHFE Zinc Stopped Rising and Started to Fall, Zinc Prices Fluctuated at Highs [SMM Zinc Morning Comment]

[SMM Zinc Morning Comment] Last Friday, SHFE zinc stopped rising and started to fall, with KDJ diverging downward. Ore TCs continued to decline, leading to increased profit pressure on smelters. Zinc prices fluctuated at highs, and subsequent attention should be paid to smelter production conditions.

1 hour ago

Tug-of-War Between Longs and Shorts, Zinc Prices Maintain Range-Bound Trading [SMM Morning Meeting Minutes]

[SMM Morning Meeting Minutes: Tug-of-War Between Longs and Shorts, Zinc Prices Maintain Range-Bound Trading] Last Friday, LME zinc recorded a small bullish candlestick, with various moving averages below forming support. On the macro front, there are expectations of easing geopolitical conflicts, but inflationary pressure remains significant. The tug-of-war between longs and shorts keeps LME zinc in range-bound trading.

1 hour ago