SMM November 28 News: This week, the SHFE/LME zinc price ratio pulled back and fluctuated below 7.4, with the zinc ingot import window remaining closed. Overseas, expectations for US Fed interest rate cuts increased, boosting market risk appetite. Although LME zinc inventory continued to increase, supply-side factors still provided support, lifting the price center of LME zinc. Domestically, the market was influenced by overseas sentiment, but end-use consumption remained mediocre, with enterprise demand primarily driven by rigid needs. However, increased expectations for maintenance in December provided fundamental support, and SHFE zinc maintained a fluctuating trend. Amid the persistent scenario of LME outperforms SHFE, the SHFE/LME price ratio continued to fluctuate. Next week, the SHFE/LME zinc price ratio is expected to remain stable.
