[Multiple Disruptions Weigh on Zinc Prices; SHFE and LME Prices Showed Continuous Downward Movement This Week] Early in the week, preliminary negotiations between the US and Iran raised hopes for a peace agreement, boosting market optimism and pushing LME zinc higher. Subsequently, expectations for US Fed interest rate hikes intensified, leading to a broad decline in global equities and non-ferrous metals. The US dollar index strengthened, and LME zinc continued to pull back...

[SMM Morning Meeting Summary: May Inflation Data Basically in Line with Expectations, LME Zinc Maintains Fluctuating Trend] Overnight, LME zinc recorded a small bullish candlestick, with the lower Bollinger Band overhead forming resistance. The US May PCE data was basically in line with expectations, easing market expectations of further interest rate hikes by the US Fed...

[SMM Morning Meeting Summary: Strong US Dollar Puts LME Zinc in the Doldrums] Overnight, LME zinc formed a large bearish candlestick, with the daily candlestick center shifting downward and the MACD bearish candlestick expanding. Affected by the strengthening of the US dollar and navigation in the Strait of Hormuz, nonferrous metals are in the doldrums......

[SMM Morning Meeting Summary: LME Zinc Center Shifts Downward Under Expectations for US Fed Interest Rate Hikes] Overnight, LME zinc recorded a large bearish candlestick, the lower Bollinger Bands provided support. Expectations for US Fed interest rate hikes increased, non-ferrous metals and global stock markets fell, the US dollar remained firm...

[SMM Morning Meeting Summary: LME Zinc Held Up Well on Expectations of De-escalation in Geopolitical Conflict] Overnight, LME zinc formed a bullish candlestick, with the 10/20-day moving averages providing support below and the upper Bollinger Band exerting resistance above. Preliminary talks between the U.S. and Iran may pave the way for a war agreement, reigniting optimism and keeping LME zinc firm.

[SMM Morning Meeting Summary: Expectations for US Fed Interest Rate Hikes Heat Up, LME Zinc Center Slightly Declines] Last Friday, LME zinc recorded a large bearish candlestick, with support from the middle Bollinger Band below and resistance from the upper Bollinger Band above, while the MACD bearish candlestick expanded. Last Friday, expectations for US Fed interest rate hikes heated up......

[Macro and Fundamental Crosscurrents Keep SHFE and LME in Fluctuating Trend] Early in the week, the US-Iran memorandum of understanding lifted macro sentiment, but a rising US dollar index kept LME zinc fluctuating at highs. Subsequently, LME zinc inventory rose markedly to above 120,000 mt, weighing on zinc prices and sending LME zinc lower. Then, ahead of the US Fed’s rate decision, wait-and-see sentiment grew notably, putting a temporary brake on the decline as LME zinc moved sideways...

[SMM Zinc Morning Meeting Summary: Bears Cut Positions, LME Zinc Rebounds from Lows]: Overnight, LME zinc opened at $3,560/mt, then fluctuated upward throughout the session, dipping to $3,555.5/mt in early trading and touching a high of $3,618/mt. It then maintained a fluctuating trend at high levels, finally closing up at $3,611.5/mt, up $50/mt, or 1.4%. Trading volume increased to 11,957 lots...

[SMM Zinc Morning Meeting Minutes: LME Zinc Inventory Rises Notably, LME Zinc Center Moves Lower] Overnight, LME zinc opened at $3,579.5/mt, briefly rose to a high of $3,599/mt in early trading, then retreated from highs and fell all the way, dipping to $3,539/mt during the session. Then LME zinc rebounded slightly from the low to near the daily moving average and moved in a narrow range, finally closing down at $3,561.5/mt...

According to LME inventory data on June 16, zinc inventory increased by 17,400 mt or 16.24% to 124,550 mt, while LME zinc off-warrant stocks fell by 18,549 mt to 20,916 mt. Based on this, the LME zinc price once quickly dropped to $3,539/mt. According to SMM, this inventory increase was mostly due to traders converting off-warrant stocks into warrants, and the overall impact was relatively limited.