SHANGHAI, Aug. 28 (SMM) -LME zinc prices are expected to rise next week, moving between $1,730-1,800 per tonne, SMM predicts.
“Momentum will improve as major economic indicators from the US slated for release next week are promising”, said an SMM zinc analyst.
SHFE zinc contracts for October delivery will trade between 14,400-14,800 yuan per tonne. SHFE zinc prices are expected to face pressure since some investors may close positions before the three days holiday for the 70th anniversary of the victory of the War against Japanese Aggression.
Spot prices in China will trade 50-100 yuan per tonne above October delivery SHFE zinc contracts. Soft downstream demand and ample supplies of imported zinc will weigh on domestic zinc prices.
For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.