LME Zinc Back Rises to Around $300/mt: Is a Squeeze Recurring?[SMM analysis]
- oct 22, 2025, at 6:47 pm
- SMM
SMM Analysis：Since the National Day holiday, the LME zinc backwardation structure has surged rapidly. As of October 21, 2025, the LME zinc Cash-3M backwardation climbed to $299/mt, hitting a multi-year high, with LME outperforming SHFE. Market concerns over a "squeeze" have intensified. From a fundamental perspective, what are the underlying reasons, and what is the outlook......
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