Newssummary: Zinc Prices to Outshine Other Metals in Q1 2015
Jan 29, 2015 02:10 GMT Source:SMM
Tags: zinc price forecast 2015, Chinese news summary
SHANGHAI, Jan. 29 (SMM) – The price of zinc will perform strongly during Q1 2015 due to favorable market fundamentals, to outshine other metals, Futures Daily said in a research note.
"Despite the broad sell-off in nonferrous metals market, zinc has held up quite well recently, and zinc will lurch higher once the dollar softens," it foresees.
China is expected to see a lower growth of zinc output due to tightening ore supply worldwide and acceleration of inefficient capacity elimination in China. Zinc demand in China, reflected by high output of galvanized plate/sheet, is strong.
Production of galvanized plate/sheet hit a new record high of 4.82 million tonnes in December 2014, thanks to growing consumption in the automobile sector and robust exports.
Moreover, exchange inventories, both in SHFE and LME, have been falling, which will also give a boost to zinc prices.
Ann: Quarterly Activities Report, page-6
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