SMM

Overnight, LME zinc opened at $2392/mt, hitting a low and high of $2376/mt and $2421/mt respectively, and closed at $2417/mt, up $27.5/mt or 1.15%. Trading volume decreased to 9134 lots, and open interest grew 2162 lots to 202,000 lots. LME zinc inventory decreased by 450 mt or 0.21% to 215000 mt. Data from the New York Fed showed that U.S. consumers' median expectations for inflation over the next year fell for the second consecutive month in November, falling to 3.4% from 3.6% in October, the lowest level since April 2021, strengthening  expectations of an end to rate hike by the Federal Reserve.