SMM

Last evening, LME zinc prices opened at $2428/mt and went up to close at $2439/mt, up $11/mt or 0.45%. Trading volume decreased to 5723 lots, and open interest decreased 1579 lots to 202,000 lots. LME zinc inventory dropped by 1175 mt or 0.56% to 211075 mt. The annualised PPI in the United States in November was 0.9%, which was lower than the expected 1%, a new low since June this year. The PPI in November was 0%, and the market expected 0.1%. The Federal Reserve kept interest rates unchanged, acknowledging that the economy and inflation have improved. Slowing down, Powell said that interest rate cuts have come into view. The dovish speech has obviously improved market sentiment, and LME zinc has been boosted by this.