SHANGHAI, May. 8 (SMM) – Zinc prices are expected to hover at low levels this week, SMM foresees.
LME zinc may move in the range of $2,520-2,630 per tonne this week, SMM predicts. SHFE July zinc will move between 20,900-21,850 yuan per tonne. SHFE zinc may look for support from the 4-week moving average this week.
Zinc Inventories Fall in China Major Markets, SMM Reports
China Zinc Concentrate TCs Mixed, Imported Ore TCs Rise, SMM Reports
Continuously falling zinc inventories will support zinc prices. But downstream consumption was hurt by environmental protection reasons. In this scenario, zinc prices will meet resistance to rise, SMM added.
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