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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