Last Friday, LME zinc opened at US$2,478.5/ton and tested as low as US$2,455/ton. It touched a high of US$2,533/ton at the end of the day, and finally closed up at US$2,519.5/ton, an increase of US$47/ton, or 1.90%. The trading volume decreased by 760 lots to 10,800 lots, and open interest decreased by 1,667 lots to 202,000 lots. LME inventories decreased by 1,975 tons to 224,300 tons, a decrease of 0.87%.
Last Friday evening, the most-traded SHFE 2401 zinc contract opened at 20750 yuan/mt and rose to 20945 yuan/mt before closing at 20925 yuan/mt, up 205 yuan/mt or 0.99%. Trading volume decreased 51101 to 43,800 lots, and open interest decreased by 4308 lots to 87,900 lots. Caixin China's manufacturing industry in November exceeded expectations and recorded 50.7, returning to above 50. Macroeconomic sentiment has recovered.
SMM zinc morning comment
- Dec 04, 2023, at 10:09 am
Last Friday, LME zinc opened at US$2,478.5/ton and tested as low as US$2,455/ton. It touched a high of US$2,533/ton at the end of the day, and finally closed up at US$2,519.5/ton, an increase of US$47/ton, or 1.90%. The trading volume decreased by 760 lots to 10,800 lots, and open interest decreased by 1,667 lots to 202,000 lots. LME inventories decreased by 1,975 tons to 224,300 tons, a decrease of 0.87%.
