Overnight, LME zinc opened at US$2,432/ton and touched a high of US$2,467.5/ton. Prices hit a low of 2,412.5/mt at the end of the day, and finally closed up at 2,421.5/mt, up 3.5/mt, or 0.14%. The trading volume decreased by 1,313 lots to 10,935 lots, and the open interest decreased by 3,536 lots to 202,000 lots. LME inventory fell by 2,425 tons to 218,700 tons, a decrease of 1.10%. The retail sales of the Eurozone in October was lower than expected and recorded 0.1%, indicating that the economy is still in a weak state, and the US dollar index rose again during the night trading session, lowering LME zinc.
The most active SHFE 2401 zinc contract prices opened at 20640 yuan/mt and lost 90 yuan/mt or 0.44% to settle at 20445 yuan/mt in overnight trading, with the high-end of 20665 yuan/mt and the low-end of 20440 yuan/mt. Trading volumes decreased 61,085 to 38,400 lots and open interest fell 669 lots to 87,600 lots.
SMM zinc morning comment
- Dec 07, 2023, at 10:02 am
Overnight, LME zinc opened at US$2,432/ton and touched a high of US$2,467.5/ton. Prices hit a low of 2,412.5/mt at the end of the day, and finally closed up at 2,421.5/mt, up 3.5/mt, or 0.14%. The trading volume decreased by 1,313 lots to 10,935 lots, and the open interest decreased by 3,536 lots to 202,000 lots. LME inventory fell by 2,425 tons to 218,700 tons, a decrease of 1.10%. The retail sales of the Eurozone in October was lower than expected and recorded 0.1%, indicating that the economy is still in a weak state, and the US dollar index rose again during the night trading session, lowering LME zinc.
