SMM August 15th News: This week, the SHFE/LME zinc price ratio continued to pull back and oscillated near the level of 8.0, with the import window for zinc ingots remaining closed. Overseas market, LME continued destocking, supporting zinc prices. The strength of LME funds was strong, and LME zinc prices rose. The US July PPI annual and monthly rates exceeded expectations, weakening expectations for US Fed interest rate cuts, and LME zinc prices fell. Domestically, supported by macro sentiment at the beginning of the week, zinc prices fluctuated. Later, there was a significant inventory buildup of domestic zinc ingots, coupled with weakened expectations for interest rate cuts, and SHFE zinc prices fell. Under the persistent situation of overseas market outperforming domestic market, the SHFE/LME zinc price ratio was in the doldrums. It is expected that next week, the SHFE/LME zinc price ratio may maintain a fluctuating trend.
