SMM Forecast of Zinc Prices this Week

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.