SHFE zinc prices continue to move higher amid weaker dollar, supply concerns
Zinc prices on the Shanghai Futures Exchange continued their uptrend during morning trading on Monday April 8, amid a weaker dollar index and positive fundamentals.
The most-traded May zinc contract on the SHFE rose to 23,225 yuan ($3,456) per tonne as at 10.14am Shanghai time, up by 0.56% – or 130 yuan per tonne – from last Thursday’s close of 23,095 yuan per tonne. Chinese markets were closed on Friday April 5 for a public holiday.
The dollar index, which gauges the strength of the US dollar against a basket of foreign currencies, was at 97.33 as at 10.14am Shanghai time, down from 97.40 at last Friday’s close.
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