[SMM Tin Morning Brief: The most-traded SHFE tin contract maintains a downward trend in the night session, and the spot market has essentially come to a standstill]

[SMM Morning Meeting Summary: Expectations for US Fed Rate Hikes Increase Significantly, LME Zinc Under Pressure]: Last Friday, LME zinc opened at $3,594/mt. In early trading, with bulls and bears intertwined, the center of LME zinc edged lower, fluctuating around $3,570/mt. The center then rebounded, and during the night session, LME zinc surged to a high of $3,602/mt. Subsequently, bears added a large number of positions, and at the end of the session, LME zinc dipped to a low of $3,522.5/mt, finally closing down at $3,540/mt, down $54.5/mt, a decline of 1.52%. Trading volume increased to 11,703 lots, and open interest increased by 3,251 lots to 234,000 lots.

[Zinc Price Fluctuates at Highs, Guangdong Premiums Fall This Week] This week, Guangdong premiums fell WoW by 15 yuan/mt. As of this Friday, mainstream 0# zinc in Guangdong was quoted at a discount of 90-60 yuan/mt against the market. The Shanghai-Guangdong price spread remained...

[SMM Morning Meeting Minutes: LME Zinc Posted a Small Bearish Candlestick as Prices Saw Wild Swings]: Overnight, LME zinc opened at $3,598/mt. Early in the session, it quickly touched a high of $3,607.5/mt, before pulling back. By midday, LME zinc surged above the daily average line but pulled back again and dipped to $3,568/mt. After European trading began, LME zinc swung higher, recouping most of its losses, and finally closed down at $3,595/mt, down $8.5/mt, a decline of 0.24%. Trading volume fell to 85,820 lots, and open interest increased by 434 lots to 231,000 lots.

[SMM Magnesium Weekly Review: Limited Support from Raw Materials, Magnesium Products Overall in the Doldrums This Week] This week, prices of various products across the industry chain followed magnesium ingots in a weak consolidation trend. Dolomite supplies were replenished adequately across regions; although raw materials tightened in some areas, overall inventory remained ample, and ex-factory prices stayed stable. Magnesium ingot prices in major producing areas first declined then stabilized during the week, with weekly quotes lowered by 250 yuan/mt. Low-priced factories held back from selling, supporting prices to stop falling, while downstream buyers restocked on an as-needed basis. FOB quotes at Tianjin port saw limited fluctuations, and a wait-and-see approach outside China led to sluggish transactions. Magnesium powder stabilized after declining alongside raw materials, with both domestic and external demand in the off-season, limited to just-in-time procurement. Magnesium alloy prices weakened, dragged down by raw materials. Demand divergence was evident, with moderate automotive orders but weak two-wheeler demand. The market faced oversupply, and enterprises lowered processing fees to boost shipments.

[SMM Morning Meeting Minutes: US ADP Employment Data Falls Short of Expectations, LME Zinc Center Moves Lower] Overnight, LME zinc opened at $3,636/mt. At the beginning of the session, LME zinc fluctuated around the daily average line. As the European trading session began, bulls increased their open interest, and LME zinc oscillated higher to touch $3,658/mt. Prices at night session continued to pull back, dipping to $3,593/mt. Toward the end of the session, prices stopped falling and rebounded, slightly recovering lost ground, ultimately closing lower at $3,603/mt, down $27.5/mt, a decline of 0.76%. Trading volume decreased to 88,462 lots, and open interest increased by 3,764 lots to 231,000 lots.

[SMM Morning Meeting Minutes: Ongoing Macro Disruptions; LME Zinc Surges to a Three-Year High] Overnight, LME zinc opened at $3,585/mt. Early in the session, it edged down slightly to a low of $3,568/mt, then rose all the way above the daily average line and touched above $3,650/mt in the night session. Near the close, the rally paused and it pulled back slightly, but still hovered at highs. It finally closed up at $3,631/mt, up $49/mt, a gain of 1.37%. Trading volume increased to 129,000 lots, while open interest fell by 2,690 lots to 227,000 lots.

[SMM Tin Morning Brief: The Most-Traded SHFE Tin Contract Maintained a Sideways Trend During the Night Session, with Low Market Trading Activity]

[SMM Morning Meeting Minutes: Bulls Exit, Zinc Prices Retreat After Rapid Rise] Overnight, LME zinc recorded a long upper shadow bearish candlestick, with the upper Bollinger Bands forming resistance above. Overnight LME zinc retreated after a rapid rise. On the macro front, renewed tensions in the Middle East intensified inflation concerns, and bulls exiting the market dragged zinc prices lower.

[SMM Morning Meeting Minutes: Tug-of-War Between Longs and Shorts, Zinc Prices Maintain Range-Bound Trading] Last Friday, LME zinc recorded a small bullish candlestick, with various moving averages below forming support. On the macro front, there are expectations of easing geopolitical conflicts, but inflationary pressure remains significant. The tug-of-war between longs and shorts keeps LME zinc in range-bound trading.