Zinc Prices Slip on Weak Chinese Demand Amid Subdued Property Market Activity
Zinc prices fell on Tuesday, weighed down by weak Chinese demand amid subdued property market activity, which has reduced the metal’s appeal.
Weak Chinese Demand and Subdued Property Market Activity Weigh on Zinc Prices
The decline in Chinese demand, fueled by a slowdown in the country’s property market, has reduced zinc prices, making it an attractive buy for investors.
The decline in Chinese demand, fueled by a slowdown in the country’s property market, has reduced zinc prices, making it an attractive buy for investors.
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Key Market Data:
- Zinc prices fell 2% to $2,450/ton
- Chinese zinc imports fell by 10% year-over-year
- Global zinc demand decreased
Market Outlook:
The current market sentiment is bearish for zinc, with investors expecting further price declines amid ongoing demand concerns.
Technical Analysis: Zinc Prices
- Support levels: $2,400, $2,350
- Resistance levels: $2,500, $2,550
Trading Strategies for Zinc Amid Weak Chinese Demand
Investors should track Chinese demand updates and adjust their trading strategies accordingly.
predict zinc price fluctuations amid ongoing demand uncertainty.
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