Zinc Prices Closed With Gains, But Downward Pressure Lingers 

SHANGHAI, Jun 15 (SMM) – LME zinc prices closed with gains on Wednesday. LME zinc stocks fell 1,775 mt to 83,100 mt yesterday. Macro sentiment improved, and a softer US dollar lifted LME zinc prices.

SHFE zinc also rose overnight, with support from the 5-day moving average. The US Fed pausing interest rate hike boosted sentiment. Yet, the Fed may still raise rate in the future. There may be downward pressure on zinc prices after positive macro sentiment fades and due to poor fundamentals.