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Zinc prices likely to come under pressure on excess supplies
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On the whole, the conflict between supply and demand is still prominent in the short term. But in the long run, the release of refined zinc output stimulated by high profits will contain the growth of zinc prices. SMM believes that the SHFE zinc will probably fall.
Generally speaking, the supply and demand in the overseas market were both in a downside trend, but the market still set prices based on the potential economic recession. LME zinc is expected to trend lower and moved between $2,800-3,100/mt.